January 9 2013
Will Obama Kill the Feminist Dream?
Okay, so “Julia” of the Obama campaign’s “Life of Julia” infomercial may get a lot of benefits from President Obama’s policies (if you consider becoming daily more and more dependent on government a benefit). But what about other women?
Democratic policies are actually making a war on married working women, who have been “living the feminist dream.”
It’s not the glass ceiling but the Democratic tax scheme that is going to stop a lot of these women in their tracks.
Over at National Review, Jillian Kay Melchior writes:
The Democrats’ insistence on high taxes on “the rich” will fall especially hard on highly educated, accomplished women who are living the feminist dream. For some of these women, the new tax policy may even provide an incentive to drop out of the work force, however satisfying their careers have been.
This irony is the result of two policies: the increased marginal tax rates on higher incomes, and the way these apply to two-earner households. …
Democrats make a lot of noise about the injustice of the gender wage gap, but their tax policy actually places the harshest penalty on women who are approaching income parity with their husbands. “The way the brackets are structured, the closer your incomes are to equal, the more likely you are to suffer a marriage penalty,” says Scott W. Drenkard, an economist with the Tax Foundation.
Women who are affluent, professional, and married will now face an incredible tax burden. Take the new federal rates, factor in state and local taxes, and these women really get a shakedown: The total top marginal effective tax rate has surpassed 50 percent in some places, according to a recent report. (Two of those places are New York City and California, both hubs for high-achieving women.)