Those who think that the taxes are going to be paid by the rich, when in reality the middle and working classes bear the brunt of the tax burden. Yelen must be desperate. She knows that tax hikes often result in lower revenues, which is why she is making this move. Basically, what they want to do is to continue squandering money and not have any consequences, but they cannot.
The rich never pay their tax, because most of their income is in the form of assets that are stored in off-shore tax havens and capital gains. And capital assets are taxed only if they are sold. There is no tax applicable on unrealized capital gains. All these tax increases will have the maximum impact on the middle class, especially those living in high-tax states such as California and New York. The same with corporate tax as well. If they increase the corporate tax, then the companies will move out to Mexico and other low-tax countries and American products will be unable to compete against Chinese products. Also, middle-class and poor Americans will lose their jobs, as the factories close down.
There is information that the proposed increase in the tax rate can be withdrawn from individual states, which with their reduced rates would not mind attracting corporations to their territory.
