[TurboZamboni]

Even if Mr. Obama were to bludgeon Republicans into giving him all of the tax-rate increases he wants, the Joint Tax Committee estimates this would yield only $82 billion a year in extra revenue. But if growth is slower as a result of the higher tax rates, then the revenue will be lower too. So after Mr. Obama has humiliated House Republicans and punished the affluent for the sheer joy of it, he would still have a deficit of $1 trillion.

[Cboldt]

How much of the the increase is attributable to activity, and how much is attributable to inflation?

[Gaffer]

The goal here isn’t to tax the rich only. They can’t get enough, even at 100% tax to pay for the largesse he’s committed.

His goal - always has been - is a massive, massive transfer of wealth from makers to takers. The single largest source of untapped real liquidity is private retirement funds - IRAs, 401Ks, and savings.

You will see before this next four years is out a proposal and full-on press to, first, assess a one-time ‘fairness’ assessment on all private retirement funds and savings (greater than the average amount a leech Democrat can put back) 10-20% is my guess.

This will go on for a year while they revel and spend in the new-found wealth and realize it isn’t enough.

They will end up CONFISCATING them all, and give each one of you suckers who had the temerity to save, the luxury of ‘saving America,’ and you will be ‘rewarded’ with an ‘extra’ pittance each month in your workers’ retirement payment.

[Pearls Before Swine]

Note, however, that federal spending remains at a new plateau of about $3.54 trillion, or some $800 billion more than the last pre-recession year of 2007. One way to think about this is that most of the $830 billion stimulus of 2009 has now become part of the federal budget baseline.

That's why Obama and the Dems were never serious about passing a budget. They had an increased baseline and operated from continuing resolutions and debt ceiling rises without ever having to add up the year's expenses in one place for all to see and debate.

[gotribe]

Remember, to obama the entire U.S. is the 1% - the 1% of the world. He’ll tax us all to hell and back.

[1rudeboy]

ping

[Chgogal]

One way to think about this is that most of the $830 billion stimulus of 2009 has now become part of the federal budget baseline.

Bongo! Why haven't Conservatives and RINOs made this part of their reelection?