by Ryan Streeter on April 10, 2012. Follow Ryan on Twitter.
If you are an Obama Democrat, you would respond to learning that Obamacare is now slated to add $340 billion to the deficit over the next decade by saying, “See, this is why we need to generate more revenue, and to do that, we need to start by making the rich pay their fair share” (that is, you’d say something like that if your first instinct was not to dispute the math or just ignore the issue altogether in favor of talking about Republicans and contraceptives or something).
Team Obama’s visionary remedy for these revenue problems, as well all know by now, is called “the Buffett Rule,” which would impose a minimum tax on millionaires. That, we are told, will do the trick. Whenever a particular political class starts throwing around a solution while remaining mysteriously silent about actual numbers, however, you need to do the math yourself to find out what’s going on. Fortunately, Political Math did the math…and produced this image to show just what the Buffett Rule would do to raise revenue and take on the deficit.
The graph speaks for itself. No commentary needed.