Let’s just assume for a moment that Barack Obama and the Democrats get their way.  They get their tax increases on the filthy, evil, disgusting 2% of taxpayers who “don’t need” that money. 

The question becomes … then what?

A year from now, if the Democrats get their way, our economy will still be limping along because we know what history has taught us about raising taxes in a weak economy and increasing government spending (especially when we don’t have the money).  At that point, the Democrats’ silver bullet will be gone, and they damned sure aren’t going to talk about cutting spending.  So then what?  Well here are a few options they might suggest.

- A wealth tax.  We’ve taxed their income, now let’s tax the tar out of their assets.  After all, “they don’t need” those “private jets” or those second homes or those yachts.  Oh and those big, fat retirement accounts … we are going to need to get our hands on those as well.

- More increases on higher income earners.  We’ve raised them already, what’s a little bit more going to hurt?

- Cap-and-trade taxes.  Taxing greenhouse gas emissions will be a great source of income and will punish those evil capitalists who are making their money in industries that we liberals don’t support, like coal and oil!

By the way, isn’t it strange that Barack Obama seems to actually agree that our corporate tax rate is too high compared to other industrialized nations, yet he doesn’t seem to think that the most progressive income tax system in the world (the United States) still does not tax rich people enough?