Barack Obama's Tax Increases—What's the Point?

Jack Farrell defends the Obama tax increases but doesn't explain their utility.

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My Thomas Jefferson Street colleague Jack Farrell has done his best to vindicate the impact of Barack Obama's proposed tax hikes on personal income. Leaving aside Jack's reliance on the assumptions of the Tax Policy Center (which he fails to note is a decidedly left-leaning organization), his conclusion seems to be: Only a few "millionaires" would get whacked, so what's the big deal?

Fine, Jack believes income taxes should be raised. But to what end? As best I can tell, he simply holds that some people make "too much."

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