“There are going to be some drastic changes for me, because I happen to be in that zone that has been targeted both federally and by the state and, you know, it doesn’t work for me right now.”
-Pro golfer Phil Mickelson on why California’s tax increases may prompt him to leave the state

And you thought the rich didn’t pay taxes.

Then again, as the “revenue raisers” were quick to remind Mr. Mickelson, the fortunate few still have plenty left even after the taxman takes half their income. So quit complaining and just lie back and enjoy it, right?

Alas — no matter how much our covetous culture demonizes them, the working wealthy are apt to do just the opposite. And if you think that won’t make a difference to your state’s economy, consider this: According to economist Art Laffer, 62 percent of the 3 million net new jobs in the last decade came from just nine states without an income tax. Continue reading →

Citizens for Tax Justice has outdone themselves with their latest spin on the ‘fiscal cliff’ tax hike-suggesting it’s much ado about nothing and the “rich” are still getting off relatively easy. Well, given the CBO data below from last year, how did they come up with the idea that our tax code isn’t progressive enough? Wow…where to start? In order to hike the wealthy’s income they had to include corporate profits, unrealized capital gains, and employer FICA payments as personal earnings! Moreover, they include state and local taxes in the calculations when the ‘fiscal cliff’ grab is all about FEDERAL policy and tax burden. I guess the premise is it’s OK to hike the federal rates because state and local goverments aren’t taxing enough! What a hoot, but keep it mind whenever you see anything from CTJ!