This story doesn’t need much commentary, the headline says it all:
There is a lot in the article worth reading, but this sums it up pretty well:
The Organization for Economic Cooperation and Development, which is based in Paris, projects that Denmark’s growth rate will fall to an annual rate of slightly more than 1 percent for the five years beginning in 2009, reflecting a dwindling supply of a vital input for any economy: labor.
The problem, employers and economists believe, has a lot to do with the 63 percent marginal tax rate paid by top earners in Denmark – a level that hits anyone making more than 360,000 Danish kroner, or about $70,000.
While Denmark has low unemployment now, it seems people in Denmark want to keep more of what they earn, so they’re leaving the country for places that allow them to do just that.
Now think of what the Democrats are proposing, taxing earners to give even more benefits and services to others. How long do you think earners in this country, those that fuel our economy by employing people, will stick around if Democrats succeed in their attempts to skew our system even further against them?
Think Michigan – everywhere.