National Debt Clock

Tuesday, May 19, 2009

Soak the Rich, Lose the Rich

http://online.wsj.com/article/SB124260067214828295.html

"Over the period 2002-2005, in each of these states the "soak the rich" tax hike was followed by a significant reduction in the number of rich people paying taxes in these states relative to the national average. Amazingly, these three states ranked 46th, 49th and 50th among all states in the percentage increase in wealthy tax filers in the years after they tried to soak the rich."

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