9:43 am August 20, 2012, by David Markiewicz
An eye-catching full-page advertisement appeared in The New York Times today from a self-described affluent business owner.
The ad is titled “Why This Fat Cat Likes Obama’s Tax Plan,” but be assured that the heading is tongue-in-cheek.
The writer, Norman Lizt of La Jolla, Calif., says he pulls in “close to eight figures annually” and has built a substantial net worth as a sole, private equity investor. He says he also employs a half-dozen people and contributes to charities.
But Lizt says that if President Obama is reelected and his “redistributionist tax agenda” is achieved, his marginal rate of taxation (he lives in California, and that’s factored in) will edge over 50 percent. That, he says “represents the crossing of an inviolate threshold … and is entirely unacceptable.”
And so, he says, “I probably will simply shutter my business and say my sweet farewells to a half dozen great employees (who are unlikely to equal their current remuneration elsewhere … if they are fortunate enough to get new jobs in this economy).”
Then, he says, will simply ride off into the sunset with his fiancee.
“To Barack Obama, I say thank you …” he concludes, “… for freeing me from the yoke and bondage of my current endeavors and providing a newfound freedom. I just hope, however, that there are not thousands and thousands of others in the same position as I am in … the multiplier effect on jobs, the economy and charitable giving could be devastating!”
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