Your (The Not-So-Rich's) Taxes Are Going Up Too

First they told us that Barry was going to close Guantanamo and abolish Bush’s “illegal, unconstitutional” war on terror policies. But after taking office, they announced that Guantanamo will indeed be closed… you know, someday… and that, contrary to what had been previously said, “enhanced interrogation,” “rendition,” and wiretapping programs will continue.

Now, the New York Times tells us:

…Your taxes are going up.

They will probably go up in the coming decade, and the increase will be permanent. For a half-century, federal taxes have remained fairly constant relative to the size of the American economy — equal to about 18 percent of gross domestic product. But the 18 percent era has to end soon.

It won’t end because President Obama is some radical tax and spender, either. It will end because of a basic economic reality.

Americans have made it clear that they want a certain kind of government, one that can field a strong military and also maintain popular programs like Medicare. Yet we are not paying nearly enough taxes to maintain those programs. Even major changes to the health care system — the single most important step for closing the budget gap — will not close it entirely. Taxes must rise, too.

This is a point on which serious Democrats and serious Republicans agree, even if they do so with euphemism. “We are on an unsustainable path,” says Peter Orszag, Mr. Obama’s budget director. Judd Gregg, the ranking Republican on the Senate Budget Committee, has said, “Revenues are going to have to go up.” Douglas Holtz-Eakin and Dan Crippen, budget experts who advised the McCain campaign, have quietly acknowledged the same.

…To the extent that Mr. Obama has talked about raising taxes, he has focused on households that make at least $250,000 a year. And their taxes will certainly need to go up. In the last three decades, as the pretax income of the top 1 percent of earners has soared, their total federal tax rate has fallen to 31 percent, from 37 percent, according to the Congressional Budget Office.

But the problem can’t be solved just by taxing the rich. That top 1 percent pays only about one-quarter of federal taxes. Once the recession ends, taxes on the not-so-rich will need to rise, too…

The Times, with a straight face, explains that both “serious Republicans” and “serious Democrats” now agree on the need to raise taxes on both the rich and not-so-rich. What they leave out is the inconvenient fact that the Republicans warned the voters that Barry could not possibly finance his expensive programs and handouts without raising taxes on the not-so-rich as well, while the Democrats (and their media supporters) argued the opposite.

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