If you thought, now that President Obama and his liberal friends got their tax hikes on the rich, we could start talking about meaningful spending cuts you can forget it.
“Obviously, there is still more to do when it comes to reducing our debt,” Obama said in a video released by his (seemingly never-ending) campaign. “And I’m willing to do more, as long as we do it in a balanced way that doesn’t put all the burden on seniors or students or middle class burdens but also asks the wealthiest Americans to contribute and pay their fair share.”
It would be nice if someone could pin Obama down on the “fair share” thing. How what’s a “fair share” rate, 50%? 60%?
Of course, if we pinned him down on a specific percentage, we could do the math on how much revenue that might produce, and point out that it won’t be enough to fix the deficit problem. In other words, if Obama became something less nebulous about what he wants for tax rates, it might be revealed that tax rate hikes won’t fix the problem.