How much more of other people’s money do you want to take (a dangerous question when asked to liberals) and what do you think will happen to the poor if we punish the wealth creators on Wall Street who are already funding a third of the city’s revenue stream? That question was implied, not asked; but Joel Kotkin more or less asks and answers it over at Forbes:
With their enthusiastic backing of President Obama and the Democratic Party on Election Day, the bluest parts of America may have embraced a program utterly at odds with their economic self-interest. The almost uniform support of blue states’ congressional representatives for the administration’s campaign for tax “fairness” represents a kind of bizarre economic suicide pact.
Any move to raise taxes on the rich — defined as households making over $250,000 annually — strikes directly at the economies of these states, which depend heavily on the earnings of high-income professionals, entrepreneurs and technical workers. In fact, when you examine which states, and metropolitan areas, have the highest concentrations of such people, it turns out they are overwhelmingly located in the bluest states and regions.
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