Taxing the Top 2% Solution is No Solution

| February 26, 2009

The Wall Street Journal has a great opinion piece today on the fallacy of President Obama‘s plan to raise the much-needed governmental revenues to institute his economic recovery plan. They call it the “2 Percent Illusion.” See this link: The Journal points out that if you look at 2006 IRS data—the most recent year for which such tax data are available, and coincidentally a good year for the economy and “the wealthiest 2%”—there is no way that further soaking of the rich can fund his rescue plans.