Robert,

Unfortunately, like Scott said, we are talking about a State Legislature that gave themselves a pay raise in the middle of the night....literally. 

When the "genious" that came up with this idea submitted it, only the paper profit was looked at.  They were seeing how much more money they can make if the market stays the way it is now.  No one actually took the time to consider that if the taxes are raised that much at one time, the market will slow and they still won't make any money.

It remains to be seen what our "sneaky" government will do about this.