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    Go kulak — more of nothing is nothing

    Go kulak — more of nothing is nothing

    Taxes are going up you ungrateful kulaks.

    Top Marginal Tax Rate Will Exceed 50% in California, New York, and Hawaii in 2013 (h/t Instapundit):

    This paper compares state-by-state estimates of the top marginal effective tax rates (METRs) on wages, interest, dividends, capital gains, and business income for tax year 2012 to the rates scheduled for 2013 under scheduled law. Scheduled tax law for 2013 assumes the expiration of the 2001 and 2003 tax cuts and the new PPACA taxes. Overall, the average top METR on wage income is scheduled to increase by approximately six percentage points (41.8% to 47.8%), while taxes on dividends would increase the greatest (19.0% to 47.9%). The top METRs on wages, dividends, interest, and partnership/sole proprietor income would exceed 50% in California, Hawaii, and New York City.

    The targets are not the really rich:

    The people whose wallets will be drained in the new war on “the rich” are high-earning, but hardly plutocratic professionals like engineers, doctors, lawyers, small business owners and the like. Once seen as the bastion of the middle class, and exemplars of upward mobility, these people are emerging as the modern day “kulaks,” the affluent peasants ruthlessly targeted by Stalin in the early 1930s.

    You’re about to be rolled.

    Or you can roll, and do what you were told to do almost four years ago when you were told that all this was coming, The Revolt of the Kulaks has begun:

    History tells us, however, that economic redistribution plans fail because the producers of society would rather not produce, than have the fruits of their production taken away and given to others. Obama can raise the tax rates on income, but he cannot force people to generate income to be taxed. People may just say “no.” This resistance will not come from evading taxes, but from evading taxable income.

    … change your economic behavior to deprive Obama of what he wants most, your tax dollars. Invest in municipal bonds, carefully manage your investments to minimize taxable income, do everything possible and legal to insulate yourself from creating taxable income.

    Starve the beast.  More of nothing is nothing.

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    NateWhilk | December 7, 2012 at 12:09 am

    Mr. Vladimir said… ‘The imbecile bourgeoisie of this country make themselves the accomplices of the very people whose aim is to drive them out of their houses to starve in ditches. And they have the political power still, if they only had the sense to use it for their preservation.’

    –Joseph Conrad, “The Secret Agent” (1909)

    […] Professor William Jacobson has an interesting post up at his Legal Insurrection blog. […]


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