This grand 0bama plan shows just how stupid democrats really are. They think raising tax RATES results in more tax REVENUE. It does not. Raising tax RATES usually results in LESS total tax revenue because the rich are not static thinkers like the democrats are.
If an evil rich person reported $1 Million in taxable income in 2011 the democrats think they will report $1 Million in 2012 when higher tax RATES are known to be in effect. Those evil rich people are so evil they will deliberately EARN and report less than $1 Million because their income is of the type that allows deferrals, credits, or deductions that will reduce their taxable income.
I have 40 years of tax return experience and have seen this too many times to ignore it. Just look what our current Treasury Secretary, over half of Obama’s cabinet, and Charley Rangel do on their tax returns: They Cheat. That’s why higher tax RATES won’t work.
Or, we can buy those wicked TAX-FREE MUNI BONDS!!!! Bwahahahaha!!!;)