And he makes a good table, bit it lacks the visual punch. It also lacks showing what the effective tax rate Obama Tax will be. I fixed that.
Oh and that's not all the taxes that come with the law. There's five more.
Via Maetenloch for Ace of Spades ONT who notes: "And if this seems rather regressive to you, you're correct:"
Even a quick look makes it clear that 75% of the taxes to be paid will be paid by those making $120,000 or less. That, my friends is a middle class tax increase of epic proportions- something this president promised wouldn't happen on his watch.
Now don't worry, if you're the type that feels that a tax where the poor pay more than the rich (assuming you make more than 36 bucks a work day) you can reassure yourself that it's a tax you can get out of by giving money to the right corporations.
Yay! Progressives like corporatism right? Oh wait. They do.
As Jonah Goldberg explains:
It also illuminated how big business really doesn’t mind regulations, if the regulations help them secure market share and prevent other firms from competing.
That’s one of the reasons the health-insurance industry was perfectly fine with being thrown into the briar patch of Obamacare. Thanks to the individual mandate, the law protected the big insurance companies by turning them into de facto utilities.
The example I usually use for this sort of thing is the Americans with Disabilities Act. Big corporations didn’t object to it much because they understood that they could pass the costs on to consumers, while the burden of the regulations would prevent smaller, nimbler firms from competing.
When I make this point, people who don’t want to understand its implications look at me funny. “You mean big business likes . . . big government?”
But don't worry, I'm sure the progressives have a plan to fix this latest mess. And like all their solutions it involves mandating them more power and money.