THOMAS JEFFERSON AND BARAK OBAMA

[couragehonorvalor]

"Our duty to ourselves, to posterity, and to mankind, call on us by every motive which is sacred or honorable, to watch over the safety of our beloved country during the troubles which agitate and convulse the residue of the world, and to sacrifice to that all personal and local considerations."
--Thomas Jefferson: Reply to New York Legislature, 1809. ME 16:362


The Populist appeal of Obama to punitively tax the top 5% of Americans (who already bear 51% of the tax burden) in order to buy the votes of the remaining 95% will backfire.

The United States, with the highest corporate top marginal rate in the developed world at 35% (Obama wants to raise this to 38%), has already seen the flight of wealth-creators like Microsoft who has moved all its intellectual property to Ireland.

Ireland has a top marginal rate of 12.5%

The unintended consequences of this buy-in to Obama's (Socialist style) class warfare will result in a longer, more protracted recession and quite likely a 1930's type depression wherein President Hoover similarly raised taxes during an economic down-turn.

Don't say that Jefferson didn't warn you.