Tax Man To Middle Class: Bend Over

[Geee]

Investors Business Daily:

President Barack Obama in 2008, and again during the 2012 election, promised absolutely, positively no tax hikes on the middle class.

The rich, however, must pay more: "It's not me being stubborn, it's not me being partisan — it's just a matter of math."

How does Obama intend to pay for our cradle-to-grave welfare state? Why, by charging the dastardly "millionaires and billionaires" who "can afford to pay a little bit more." No more extending the Bush-era tax rates for the rich.

To do so, Obama tells us, would "cost" $700 billion — over 10 years. So this "break" for the rich "costs" $70 billion a year — or a mere 7% of the $1 trillion annual deficits that Obama has rung up since he became president.

This leaves us short about $930 billion per year — just for the annual deficit, never mind paring down the ever-growing national debt. From where is the shortfall to be made up?