But neither one of those policies are popular, so the President largely ignored them during his state-of-the-union address and instead focused on using the tax code to promote “fairness.”
The President’s home state of Illinois is a good test case of this approach. The politicians rammed through a big tax increase early last year, supposedly to stabilize state finances.
Unfortunately, Obamanomics isn’t working very well in Illinois. The state just got downgraded by Moody’s and ranks below even California.
The most damning evidence, though, is what’s happened to the job market. Unemployment is still far too high across the nation, but the vast majority of states are seeing at least modest improvement.
But a tiny handful of states, led by Illinois, are moving in the wrong direction. Here’s a very powerful chart produced by the Illinois Policy Institute. The tax hike is about one-year old, and we’re already seeing strong evidence that jobs are fleeing the state.
Now close your eyes and envision a different map. Instead of American states, imagine a map of the world. And think what it will look like if Obama succeeds in imposing all the tax increases he had endorsed.
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for August 27th, 2014 | John Ransom
In Other News: Warren Buffet's Secretary Unavailable for Comment on Burger King Tax Move | Michael Schaus
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for August 26th, 2014 | John Ransom
In Other News: Rare Sighting of the Elusive President Obama in His Natural Habitat, the Golf Course | Michael Schaus
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for August 25th, 2014 | John Ransom
In Other News: Law "Enforcer" Eric Holder Understands People's Mistrust of Law Enforcement | Michael Schaus
In Other News: Good News for Mexican Drug Cartels Seeking Some Slightly Used DOJ Hard Drives | Michael Schaus