The Cynicism of Obama's Soak-the-Rich Policy

Barack Obama is plumbing the depths of cynicism and expedience as he has embarked on a campaign of overt class warfare and demagoguery in order to win reelection and shift the spotlight off the economic and societal failures of his policies. Whenever the American left are in power and their economic policies of socialism (papered over with a capitalistic veneer) fails, it is as certain as the change in the seasons that they will claim that the cause of the failure is that the so-called rich do not pay their undefined "fair" share in taxes.  Thus they will push for higher rates in the inane belief that by raising the rates, the revenue to the government will grow by an equal percentage, as they attempt to rally the populace into a unified anger over the need to punish a perceived foe. However, history has a way of intruding on this misbegotten philosophy.  The federal income tax has been in effect since 1913.  Since that time the top marginal rate has bounced around from...(Read Full Article)

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