Happy Tax Day! A lot of numbers in this article, but the point is we cannot solve our deficit problems by taxing “the rich.” We either limit the spending on entitlements, or we significantly raise taxes on the middle class.
The mathematical reality is that in the absence of entitlement reform on the Paul Ryan model, Washington will need to soak the middle class—because that's where the big money is.
Mr. Obama's game has always been to pretend not to increase taxes for middle class voters while looking for sneaky ways to do it.
Mr. Obama's speech was disgraceful for its demagoguery but also because it contained nothing remotely commensurate to the scale of the problem. If the President had come out for a large tax on the middle class, like a VAT, then at least the country could have debated the choice of paying for the government we have or modernizing it a la Mr. Ryan so it is affordable.
Instead the President will continue targeting the middle class for tax increases to pay for an entitlement state on autopilot, while claiming he only wants to tax the rich.