For the Left the Answer Is... Soak the Job Creators... AKA: The Rich
by: Les Carpenter Rational Nation USA Birthplace of Independent Conservatism While the pResident contents himself with playing the perennial popular class envy and class warfare card the reality is... From The Wall Street Journal . A dominant theme of President Obama's budget speech last Wednesday was that our fiscal problems would vanish if only the wealthiest Americans were asked "to pay a little more." Since he's asking, imagine that instead of proposing to raise the top income tax rate well north of 40%, the President decided to go all the way to 100%. Let's stipulate that this is a thought experiment, because Democrats don't need any more ideas. But it's still a useful experiment because it exposes the fiscal futility of raising rates on the top 2%, or even the top 5% or 10%, of taxpayers to close the deficit. The mathematical reality is that in the absence of entitlement reform on the Paul Ryan model, Washington will need to soak the midd...