The problem that Zero is going to have is that even if he taxed the “rich” at 100% he still won’t have enough revenue to pay for his grand socialist schemes. That being the case, it won’t be long before he’ll be reaching into the pockets of the middle class and that’s when it will hit the fan.
As an aside, ask the average misinformed person if they’re for doing something about “global warming” and they’ll probably agree. Tell them that cap and trade is going to easily double their electric bill and see the response!
No matter how many times it’s gets said, there is no such thing as a free lunch. Someone is going to pay for it.
0be's going to get a first-hand, object lesson in the use of the Laffer Curve.
I actually heard an Obama spokesperson say when presented with the rise in utility bills due to cap and trade: “The tax cuts (i.e. 13 bucks a week) will offset any rise in the utility bill.” So what’s the point of a tax cut if you’re just going to turn around and take it away by causing a rise in utility bills?