In response to:

Obama on Foreign Policy: Tax the Rich

Rock Strongo Wrote: Oct 20, 2012 9:21 AM
But the budget cannot possibly be balanced solely through higher tax rates on corporations and high earners. There would also have to be massive spending cuts--perhaps even the elimination of entire departments--and liberals show not even the slightest inclination toward cutting spending of any kind that does not involve national defense. It is not even clear that higher tax rates would produce greater revenues, as the two have moved in opposite directions too often in the past to simply assume they would.

As we run up to the final debate- this one on foreign policy- the establishment media hopes that it will be a defining moment in the Obama presidency.

But we already know that Obama’s speech- disguised as a debate- will contain nothing new.

His foreign policy will be based on a simple premise:

“If the rich were taxed at the same rates they were half a century ago,” said Obama senior advisor David Plouffe last year, “they’d be paying in over $350 billion more this year alone, which translates into trillions...

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