"Everybody knows Obama's tax increases will do little to reduce deficits in coming years. They'll add about $60 billion in revenue a year, turning a $1.2 trillion deficit into a $1.14 trillion deficit."
Who says they'll add $60 Billion a year? That was the number when we were talking taxing people making $250,000 and over, not $450,000 and over. That's a much smaller cohort. And it certainly doesn't take into account that when you tax something you get less of it. Every year expect LESS on the revenue side and MORE on the spending side, especially as we plod onward into another recession. This latest tax increase will do virtually NOTHING to stem the deficits.
This essay, from the top down, is hogwash.