Rich to Pay 90% of their Income In Taxes To Fit Obama's Plan. . . .

According to Carolyn Lochhead at sfgate.com:

. . . .Democrats often give the impression that taxes on the rich can fix everything. But the center-left Tax Policy Center ran simulations showing that Obama's budget would have to raise $775 billion in new taxes every year to stabilize deficits at 2 percent of GDP. That means that if Obama keeps his promise not to raise taxes on the middle class, the rich would pay 90 percent of their income in taxes, the center said.

Obama "promised to be honest with the public, and he has a talent for doing so," said Maya MacGuineas, president of the moderate Committee for a Responsible Federal Budget. "Yet he hasn't used it yet to describe what types of hard choices will be involved."

Soaring levels of debt $10 trillion Amount the Obama budget will add to the national debt in the next decade.

$5.6 trillion Amount interest costs alone will consume this decade.

63% Debt-to-gross domestic product ratio this year.

90% Debt-to-gross domestic product ratio anticipated within this decade.

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Looks like our country needs to start spending a lot of money really quick. . . .right? Weren't we told that spending a TRILLION dollars on Obamacare was going to save us money in the future? Yep, that's what we were told.

And I can guarantee you that it won't be only the "rich" that will pay 90% of their income in taxes.  

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http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2010/04/05/MNI21COVR1.DTL