This comes via the Tax Prof:
Q & O chimes in:
So when you hear that all this new spending, which will indeed raise the deficit, won’t raise your taxes by a single “dime”, you can believe it if you wish. But that doesn’t mean it is true. And it certainly doesn’t mean Democrats can keep that promise. Because if they do, they’re simply kicking the same can down the road that Republicans have for years (and no, I’m not advocating massive tax increases, I’m just providing a little reality check to counter the nonsense the politicians continue to spout). The alternative to the tax rates above is to cut spending – drastically. If you see that on the horizon you’re the only one because Congress just raised the debt ceiling – again.
Where this means anything to me, is this. Not only would they have to raise taxes on the very wealthy. They would have to raise on people who are middle class and poor as well. So, as many Conservative Bloggers have pointed out in the past; when a Nation engages in statism and enacts those sort of policies —- everyone pays. From the very wealthy, to the extremely poor. You also pay with the loss of your liberty; what which is something that the statist socialist liberal Democrats find to be a quaint idea, that needs to be modernized.