Why Obama will have to tax the middle class even more

In a recent study of the Tax Policy Center (Brookings-Urban Institute, a liberal think tank) the researchers "looked at how high income-tax rates would have to rise in the top two or even three tax brackets to lower debt to sustainable levels under something akin to CBO's estimate if we continue the way we are. They conclude that even if the top rates hit 100%, the budget "cannot achieve the debt-reduction targets in some or any of the target years." Though conceding that near-total confiscation is "completely unrealistic," they report the results anyway "to indicate the infeasibility of achieving a high debt-reduction target simply by increasing top individual income tax rates." And this is from economists who favor higher taxes."

And undoubtedly, there are anti-life, anti-God Democrats in Charlotte today (the ones who booed at putting God and Jerusalem back in the platform) who would say go for it--100% rates for the "rich." But when the rich are gone, they'll come for you. The intention is not to have better social programs—it has always been about control.

http://online.wsj.com/article/SB10000872396390444914904577615392065706990.html