Problem: Massive budget deficit. Solution: Soak the rich. Unintended consequence: Rich people got wheels, ya know? Let's take a look at this graph again, keeping in mind the red line is how the left side of the peanut gallery thinks the world works, while the green line is how the rest of us know it works:
Q: Why does revenue stay comparatively flat despite dramatic fluctuations in the tax rates on the wealthy?
A: Cheaters and loopholes.
Follow up: And exactly how will your current plans to soak the rich prevent that from happening again?
A: ...
I rest so much easier now that we've put grown-ups back in charge of the money.
Via Instapundit.