That $40 billion tax hike alone is twice as much as all the federal taxes paid by the 39 million Americans in the bottom quintile.

We're sure that Obama's camp would address our concerns by pointing out that raising the tax bill for the top 1% eases the tax burden on the rest of America. But that's a superficial rationalization designed to appeal to class envy.

First, increasing the burden on the top taxpayers will not make the poor rich, but instead make the rich poorer. There will be 131 billion fewer dollars in the private sector for investments that create businesses and jobs.

Second, squeezing the federal tax burden onto an ever smaller group is not smart. The Marxist appetite for radically progressive taxation is both unfair and dangerous.

Third, the large majority that pays little or no taxes will make excessive demands on the small group that is saddled with the burden because the non- and low-paying group is insulated from the pain.

Yes, by all means, let us take the money from the most productive members of society and give it to the least productive.