The Obama Timeline author Wrote:
Nov 30, 2012 3:22 PM
"Capping all itemized deductions at $50,000 a year would mean an extra $749 billion for Uncle Sam over the next decade." Yes, so that is a $749 billion tax increase. What difference does it make how the government confiscates wealth? It is still confiscating wealth. Taking $749 billion out of the private economy will destroy jobs. Period. It's the spending, stupid!