Thursday, November 05, 2009

If taxes were a big deal in both the Virginia and New Jersey races for governor, considering that state taxes are usually lower than federal (income and payroll) taxes), wouldn't it stand to reason that taxes (and, in particular, raising them) would be an even bigger issue on the national stage?

A 10% hike in state income taxes or a similar boost in the state sales tax is going to hurt a whole lot less than a 10% in federal income taxes.