If U.S. hikes taxes, high-income Californians might pay almost 52 percent

hotair

As Joel Kotkin writes for Forbes, it’s kind of odd that blue states voted so overwhelmingly against their own self-interest in reelecting Barack Obama, because the tax hikes he campaigned on will come down disproportionately hard on the economies of blue states.

Comment:

Also, the word out there is that cutting taxes in the past was so bad that it caused all of our problems.  What may be getting overlooked is the effect of local tax rates on the economy.  If the total aggregate marginal tax rate is over 50% already or will be soon, how the hell is low tax rates the blame for our economic problems?

 Rates are too high already.