One percent of the people that live in the city, the households that file in the city pay something like 50% of the taxes. In a city that’s about 40,000 people so, you know, a handful left, any raise would make it revenue neutral. The question is, “What’s fair?” If one percent are paying 50% of the taxes, you want to make it even more? A little over half the people, half the households who file tax returns don’t pay any taxes. And about 30% of the households that file get a credit from the government. The government sends them a check. That’s the Earned Income Tax Credit.
Forty thousand people (he means families, I’m sure, but 40,000 people) outta eight million pay half the tax load in the city. Do you realize all it would take to kill that city is half of them leaving? If 20,000 of that 40,000 paying 50% of all taxes fled and decamped, do you know what would happen to New York? It would die. These people, these 40,000 people, they ought to be treated like royalty.
They ought to be thanked. They ought to be respected. Instead, they are impugned. They are maligned. They are trashed, as often a day as Democrats can do so. They are said to be the problem. That 40,000 people is who Obama is aiming at. Those 40,000 people is who back home thinks are responsible for the blight that exists throughout the rest of the city. Those 40,000 people, they make too much money. They have too much of a good time. They have taken all that wealth from the other 50% of the city. As such, we have to target them: the stimulus package, the mortgage bailout, what Rick Santelli was talking about. Atlas Shrugged! The people who are making this country work are the targets, and the people who are the losers, the people who are the slackers, are the beneficiaries.
http://online.wsj.com/article/SB123500384765617949.html
