Obama's tax policy

Obama's Speech Was a Waste of Breath - Clive Crook - Politics - The Atlantic

The rich can pay for it all. That is Obama's tax policy.

In fact, that is all of Obama's tax policy, and not only his tax policy. It's also his entire economic-recovery program. But it's all fog.

According to Internal Revenue Service data, the entire taxable income of everyone earning over $100,000 in 2008 was about $1.582 trillion. Even if all these Americans—most of whom are far from wealthy—were taxed at 100%, it wouldn't cover Mr. Obama's deficit for this year.