“After they tax these folks, they’re coming after you.”

Over at sister blog The Locker Room, Mitch Kokai posts an excerpt from a Fortune magazine piece by Nina Easton with comments from New Jersey Gov. Chris Christie about taxing the rich. This is definitely worth the read. Gov. Christie is correct.

I ask this of the progressives who endorse imposing higher tax rates on the producers and/or the wealthy: what will you say when progressives decide YOU make “too much” money that you don’t “need”? Based on my reporting for Carolina Journal (see page 6 of the June issue linked here) very few people are willing to voluntarily pay more taxes than they owe, as evidenced by the paltry balance in the federal government’s gift fund, which receives voluntary payments to the treasury.

So where are the progressives who endorse higher tax rates? Why won’t progressives send in more money voluntarily? Why do progressives seek to impose higher rates on others via government taxing power, but then keep the fruits of their own labor in their own pockets?

“There is no reason to be too optimistic in the current economic situation.”

The North Carolina Technology Association has published a sobering report on the IT sector in the state.

We believe that demand for IT professionals in the state has peaked and will only expand again after general economic growth is demonstrated. The national IT job market average declined 3.7% in June.

Without a change in economic policy, growth will lag and so will the IT sector. The health field seems to be the only area of job creation, and that’s primarily due to regulations that, sadly, serve to stifle overall growth.

Unemployment Rate For New Grads 13.7%, Unemployment Rate For Teens 24.6%

I scratch my head about the support from young people for economic policies that have failed – and will continue to fail – and put them at such a disadvantage for years to come. 

Summer is half over, yet many young people are still looking for jobs. They have it especially tough in this economy. The effects of the recession have fallen most disproportionately on them. The unemployment rate for teens is 24.6 %, and the rate for young adults ages 20 to 24 is 13.7 %.

Unless we see a change in economic policy, teens and new graduates face a very dismal decade. How long will it be before they realize that $16 trillion in debt awaits them? How long will it be before they realize that government growth and regulation are strangling the private sector? How long will it be before they realize it doesn’t have to be this way?