The Joint Committee on Taxation found that raising the tax on millionaires to 30% federal (the so-called Buffet Rule) would raise just $5 billion per year.

Worse, if the Democrats passed all of their tax increase wish list – Congress’s Joint Committee on Taxation concluded the best case scenario (if no one changes their behaviour) – would raise $82 billion…..or just 7% of the current deficit.

In short there is simply no possibility that the Fiscal Cliff will be solved without MASSIVE spending cuts. Don’t tell that to an Obama worshipper like CNN’s Candy Crowley though, as the math simply does’t fit her fantasy….. as she proved on Sunday’s State of the Union when she pitched Tax Hikes Without Even Mentioning Spending Cuts.