CBO: Obama’s Plan to Tax the Rich Will Cut Deficit by ZERO Dollars

More class struggle with your Little Gulp?

Via Beltway Confidential:

Raising taxes on the rich was the cornerstone of President Obama’s reelection campaign. “If we’re serious about reducing the deficit,” Obama told a rally in Columbus, Ohio, on election day, “we’ve got to ask the wealthiest Americans to go back to the tax rates they paid when Bill Clinton was in office.”

But just how much deficit reduction would Obama’s tax hikes on the rich necessarily accomplish?

Nothing, according to the Congressional Budget Office.

Keep reading…

h/t: Weasel Zippers

About Brent P.

Editor-in-Chief at TheRightPlanet.com, writer, tech editor, software engineer, web developer, graphic design, anti-Marxist, pro-American guitar shredding Glock owner.
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