Wall Street Journal
Over the past decade, states without an income levy have seen much higher growth than the national average. Which state will be next to abolish theirs?
Barack Obama is asking Americans to gamble that the U.S. economy can be taxed into prosperity. That’s the message of his campaign for the Buffett Rule, which raises income-tax rates on millionaires to a minimum of 30%, and for the expiration of the Bush tax cuts. He wants to raise the highest income tax rate by 20%, double the rate on capital gains, add a new 3.8% tax on all capital earnings, and nearly triple the dividend tax rate.
All this will enhance “economic efficiency,” insists a White House economic report. As for those who disagree, says President Obama, they’re …