Of course the weak-minded will continue to buy into Obama’s class warfare scheme and believe that taxing the 1% will magically bring down Obama’s record budget deficits.
From Beltway Confidential:
Raising taxes on the rich was the cornerstone of President Obama’s reelection campaign. “If we’re serious about reducing the deficit,” Obama told a rally inColumbus, Ohio, on election day, “we’ve got to ask the wealthiest Americans to go back to the tax rates they paid when Bill Clinton was in office.”
But just how much deficit reduction would Obama’s tax hikes on the rich necessarily accomplish?
Nothing, according to the Congressional Budget Office.