Originally Posted by Direckshun
Actually, the Tax Policy Center just a few days ago said the Clinton rates on high income earners would net $849 billion
That includes more than just returning top marginal rates to Clinton era levels. It also includes things like changes to cap gains and dividend treatment. (see items C, D, and E in the chart I linked).
According to John Hinderaker of Powerline
, the Joint Committee on Taxation comes up with a number even lower than my estimate:
The Joint Committee on Taxation has done the math. Raising the top two rates as proposed by Obama would increase revenue by $22.35 billion in FY 2013, assuming that no economic activity is deterred by the higher rates.
That's for a full return to Clinton rates.
"Well, it is one thing for Bill Clinton to say, I feel your pain. It is another thing for Barack Obama to say I feel your pain that I have caused." - George Will