Never mind that the top earners already pay most of the taxes (about 69 percent in 2007)--which is more than their share of income (see chart 2). Never mind that tax rates dropped for all quintiles. Never mind that after tax income is up over the past 3 decades for all quintiles. Never mind that tax cuts spur economic growth. Never mind that tax receipts increased -- and borrowing decreased -- following the Bush tax cuts until the onset of the credit crunch (see page 5). Never mind that the late '90s Clinton surplus was produced by spending restraint, not tax hikes. Never mind that the Democrat definition of "rich" may include the middle class.
Rather, as TigerHawk says:
[L]et us all remember that the Obama Administration has already pushed through massive tax increases, most of which will fall on the "rich," that go in to effect in 2013 and thereafter. The Wall Street Journal has a nice summary of them here. So the question is not whether the "rich" will pay new and more taxes, but whether there will be another round of increases on top of those already legislated.So, to trim the deficit, how about repealing Obamacare?