HIT & RUN BLOG

As it turns out, raising tax rates on the "wealthy," the most pressing issue of the Obama Age, amounts to a mere $62 billion of new revenue, says David Harsanyi.

To put it in perspective, the deficit spending this year alone was more than $1 trillion. So the fiscal deal will supposedly bring in $620 billion in new revenue over the next decade, which is less than any year's worth of debt under President Barack Obama. If redirecting resources from private-sector investments to green energy subsidies feels like a victory, congratulations.

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