“Although my new spending proposals may raise the federal deficit in my first year to $1.75 trillion, I promise the American people that by the end of my first term, I will halve the federal deficit – albeit adding another $3 trillion to $5 trillion to the national debt.
”Those savings can be accomplished by upping the federal income tax to about 40 percent on those rich 5 percent of Americans who currently pay only 60 percent of our aggregate income taxes – as well as lifting Social Security caps on their payroll taxes and cutting out many of their tax deductions.
”With state income taxes, federal income tax, Social Security and payroll taxes, along with new cutbacks in deductions, some of these rich will pay over 60 percent of their incomes in taxes. That is not an unreasonable rate in comparison with past levels – or the fact that well over 40 percent of Americans do not make enough to pay any federal income taxes.
Seriously ya’ll, go read the whole thing. It’s absolutely brilliant.