Obamanomics Explained | Alan Reynolds | Cato Institute: Commentary

Obamanomics Explained | Alan Reynolds | Cato Institute: Commentary: "Obama suggests that raising the top two tax rates will turn deficits into surpluses, which would now be good for our economy. Isn’t he the one who used to say huge deficits were a “stimulus”?"

"The Obama Treasury estimates that taxing long-term capital gains at 20 percent “for upper-income taxpayers” (not counting the Obamacare surtax) would raise $5.8 billion in 2013, but lose $5.9 billion in the following two years. That adds up to less than zero."