Soak-the-Rich Taxes Soak Everyone | Jim Powell | Cato Institute: Commentary

Soak-the-Rich Taxes Soak Everyone | Jim Powell | Cato Institute: Commentary: 'Soak-the-rich taxes are for suckers. President Obama, like so many politicians who came before, is singing the happy song that only millionaires and billionaires will have to pay. But runaway spending — whether because of war or entitlement programs — drives government to extract revenue from people with much lower incomes, like the nearly half the population that pays no federal income tax now.'