It’s part of U.S. President Barack Obama’s plan to fix the U.S. economy, which includes asking the richest American taxpayers to fork over more money.
But has President Obama done the math?
Taxing the rich will bring us $80 billion, far short of the annual federal deficit of $1 trillion.
Money Morning Chief Investment Strategist Keith Fitz-Gerald joined FOX Business Network’s “Varney & Co.” last week to discuss the flawed logic and resulting frustration of touting “taxing the rich” as the way to solve our economic problems. Check out this dynamic interview with Fitz-Gerald.