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July, 16th 2009

What I woke up to read this morning in NYC...

– Liz Mair

NY Post headline: DEM HEALTH RX A POI$ON PILL IN NY / TERRIFYING 57% TAX LOOMS FOR BIGGEST EARNERS.

Some choice excerpts are:

New York's top income bracket could reach as high as 57 percent -- rates not seen in three decades -- to pay for the massive health coverage proposed by House Democrats this week.

and

The $544 billion tax hike would violate one of President Obama's ironclad campaign promises: No family will pay higher tax rates than they would have paid in the 1990s.

Please just go read the whole thing, though.

Between tax rates (at least per the Post's interpretation) going back to 1970's levels, and the risk of inflation kicking off again, I'm wondering if the we can expect "change," Obama-style to begin encompassing the re-introduction of rollerderby, more polyester clothing and disco.  If so, the first and last of those items would be the only possible upside from my perspective-- and I daresay a lot of other Americans, too. [intro]

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