Will the real socialist please stand up?

Current Federal Tax Rates in Canada:

$0 to $37,178 15.5%
$37,178 to $74,357 22%
$74,357 to $120,887 26%
$120,887 and above 29%

$150K a year worker will pay $34,500 in tax.

US Rates 2007:

$0 to $7550 10%
$7,551 – $30,650 15%
$30,651 – $74,200 25%
$74,201 – $154,800 28%
$154,801 – $336,550 33%
$336,551 and up 35%

Same $150K earner will pay $35,665. Already a middle class worker is taxed more in the US than in Canada.

US Rates in 2009 when Hillary and Charles Rangel get their way. Bush tax cuts are gone and revert back to 2001 levels of:

$0 to $27,000 15%
$27,001 to $65,550 28%
$65,551 to $136,750 31%
$136,751 to $297,350 36%
Over $297,350 39.5%

Same $150K earner will pay $41,483. This worker will pay $6000 more in 2009 than he/she does today. As disgusting as that is, he/she will also be paying $7000 more a year than his/her counterpart will pay in Canada.

What Hillary and Rangel don't understand is that this is 2007, not 1807 or 1907. It is a global economy where people are not constrained by geography. I could do what I do in Canada, or in the US or England or Slovakia for that matter. Corporations have been moving production off-shore to save money for decades. Soon enough individuals will be doing the same. I can legally live and work in Canada and the EU. I'm not booking any flights to Toronto just yet, but it is a definite possibility. And given the fact that the $USD is getting weaker and weaker, what incentive is there to stick around? So I can watch my money slowly be confiscated from me and given to those on welfare? So I can pay for illegal aliens and their children's education and health care? So I can fund things like the NEA which will indoctrinate another generation of children into socialist doctrines? Thanks but no thanks. I can get all that in Canada or Europe while paying less in taxes and getting the health care freebie on top of it.

Once upon a time the US was the lone beacon of capitalism in a sea of socialism and communism. No more. If the Democrats get their way - and they will - in 2009 the US will have the 7th highest tax rates among developed nations. Higher than France, Germany, Canada, Japan and Spain. About the only ones higher will be the Scandinavia and a handful of others.

The Reagan Revolution is officially dead. Ironic that Russia's top income tax rate is 13% while the US rate will be 39%. maybe ironic is the wrong word. Sad is more like it. Pathetic is even better.