“Meanwhile, if Obama keeps his pledge to raise taxes on the top 10 percent of income earners (or even on the top 2 percent), he will give them enormous incentives to alter their behavior, so as to show lower income. ... Obama seems to have no comprehension that raising tax rates at the top dramatically lowers revenue coming in. He will learn the hard way.”
There’s no lesson to learn there. Obama already knows that. When confronted by a question that raising captial gains tax rate loweres the amount of taxes raised, Obama said that was unimportant. That what was important was ‘fairness’. It was the right thing to do. IOW, Obama is more interested in lowering the income of the top earners than anything else.
Your assumption is correct....it is deranged to even consider his proposition....
More scary is his thoughts on Universal Healthcare.....even without adding it to the ballooning entitlements programs...we can expect non-discretionary spending of the national budget to increase from today's 20-25% of the budget to almost 70% within 30 years...
Throw Government run Health-care into that mix and it will surely sink this nation....even without it we are sunk unless something drastic is done to reduce the deficit and entitlements spending...
Most people haven't a clues as to what is to come within the next 30-40 years.....all they care about is "Big Daddy" taking care of them.....well it ain't free....and the check will surely come due...sooner rather than later....