2012-11-19 —

``If you really want to raise revenues, the Holy Grail isn't capping tax deductions, as Romney proposed, or raising the top marginal rate, as Obama proposed. It's taxing investment income like ordinary income... My cynical instincts say that Democrats don't want to upset the hedge fund establishment any more than they already have. But Barack Obama, you will never run for re-election again. Now is your moment. Don't waste it.''

We don't dispute the inherent "justice" of this idea, but the problem of course is that the economy is so ailing now, shifting even more money over to the unproductive government would likely be a fatal gut-check.

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