Ugh. It’s probably a good idea to finally accept the fact (if you haven’t already) that the American left’s unquenchable thirst for ever-higher taxes on “the rich” will never, ever be satiated, no matter how much money they get. Only if we tax upper incomes earners more, they insist with a smile and a straight face, can we finally find a “balanced approach” to solve the greatest fiscal challenges of our time. This is nonsense, of course, but Democrats in Washington seem utterly incapable of facing reality and accepting hard-truths. Enter Harry Reid (via Daniel Halper):
"Democrats believe we should replace this harsh austerity with a balanced approach that targets wasteful spending and tax loopholes," said Harry Reid, "and ask the wealthiest among us to contribute a little more to reduce the deficit."
As Halper notes, the Republicans in Congress recently agreed to about $617 billion in tax increases on “the wealthy” during the fiscal cliff negotiations. This isn’t chump change, my friends -- and yet Reid’s assertion suggests that this never actually happened. One would think moving forward there would be an implicit understanding between both political parties that since Senate and House Republicans capitulated on tax hikes in good faith, Democrats would now be willing to roll up their sleeves and get serious about Washington’s very serious spending problem. No sir. The Democrats have zero interest in confronting reality, even though it’s staring them blankly in the face. They want more taxes increases -- and they're going to fight tooth and nail every single day to get them.
The Wisdom of Bastiat, as Revealed by Great Moments in Federal, State, and Local Government | Daniel J. Mitchell