[throwback]

Under those conditions, the government could only expect an additional $58 billion in tax revenue this year. That’s hardly more than a rounding error in a budget with a deficit of $1.6 trillion.

I wonder when the Chinese will figure out they're not getting their money back. Even communists expect other communists to make good on their debts.

[DrC]

“Under those conditions, the government could only expect an additional $58 billion in tax revenue this year.”

Of course, that’s a static revenue figure that assumes that higher marginal tax rates would have zero impact on the amount of taxable income earned at the top. Dynamic scoring would produce a much lower net tax revenue figure, further invalidating Obama’s already weak argument.