Obama plans to raise tax rates on upper brackets. Merely to Clinton levels. Health reform will in part be paid for with surtaxes on high-income individuals.
This and more will amount to a significant financial hit to CEOs, investment bankers and other masters of the universe.
Don’t cry for these people. They are doing extremely well, contributing little more to our country than they did in the 1990s.
Tax increases they’re facing are reasonable, but that doesn’t stop them from being very, very angry. Rage against regulation seems bizarre, but what did they expect?