With the recent increases in income tax rates, Medicare and Obamacare surtaxes, and the Alternative Minimum Tax, the New York Times has released a study that America’s highest earners are facing the largest tax burden since Jimmy Carter (the First) was President.

As most people chase after the American dream, the tax increases for those making the hottest pursuit will make it more likely that the dream will be unattainable. For the wealthiest Americans (e.g., Bill Gates and Warren Buffett), income taxation has no meaning. If they need money, they can take a tax-free loan against their holdings or sell a tax-neutral property. These tax rates will prevent “working generations” of people from increasing their standard of living from what their parents had.
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That all being said, most people do feel a sense of patriotic duty to contribute their tax dollars to the greater good. However, the “greater good” from Washington seems to be helping those who choose not to help themselves and want to rely on handouts.