By David Limbaugh
I hate to break it to those deniers who believe that President Obama's tax-guzzling capacity has somehow been diminished by the fiscal cliff provision to fix "permanent" tax rates. You're dreaming.
Several smart columnists and respected conservative editorial pieces tell us that a major silver lining in the crisis deal just concluded is that by agreeing not to reinstitute the Clinton tax rates (and leave the Bush rates in place) for all but the "wealthy" (income of $400,000 for single filers and $450,000 for marrieds), Obama and the Democrats made a major concession. They argue that if Democrats couldn't do better after Obama was just re-elected and when the debt is so high, they'll never be able to. They'll have to realize that they will never be able to sustain their desired welfare state through raising taxes alone and have to come to the table on serious spending cuts and entitlement reform.
This assumes that Obama and the Democrats have any real interest in reducing spending or curbing entitlements. They have shown no interest in doing so, despite the crushing debt problem threatening the nation's solvency.
Obama doesn't base his spending plans on projected revenues, except on a micro level when the law requires him to present bills with revenue-neutral scoring, at which point he…
Source: Town Hall