Margo, on Jennifer Rubin:

I don’t see how it can be repeated too often: A tax on business is a tax on the customers of that business. If the customers are businesses, it’s a tax on their customers. It all gets down to the ordinary person buying goods and services in this economy.

Low-income people spend the largest percentage of their income for goods and services (rather than savings and investment). Since we are a society of mass production, where most goods and services are intended for a mass market of middle- and low-income people, Low-income people are the people who will pay the most of these taxes.

Investors right now are calculating that the purchasing power won’t be there to pay these taxes. In essence, investors are taking into account the ability of low-income people to pay for this, and acting as their agents.

The terrible myopia of the socialist worldview Obama embraces is an inability to see that all members of a society are interdependent. There are no independent oppressors and unconnected victims; there are people acting in various ways within the same system. And often the same person acts in many various ways. For instance, there’s the hourly employee with 401K stocks, sharing a mortgage with small entrepreneur, and with a minimum-wage teen paying rent in kind (sometimes). You hit one, and the others hurt too.