Poll: Millionaire tax popular, spending cuts too (AP)

THIS much can be said for the deficit plan that Barack Obama released today: at least it’s a plan. Mr Obama has spent the first two and a half years of his presidency talking grandly about the importance of getting the deficit down without ever laying out a credible plan for doing so, in the process ceding the initiative to Republicans.

In a crushing blow to socialism, wealth redistribution and purveyors of the "fairness doctrine" (as defined here first) everywhere, the French Constitutional Council ruled on Saturday that Hollande's brilliant idea to tax millionaires at a 75% tax rate - a move which has since seen numerous millionaires leave France and move to Belgium - is unconstitutional.

Here I offer some thoughts on President Obama's new proposal.

Last week the Tax Policy Center (TPC) released this distributional analysis of the Romney tax plan, exploring how the plan could be made revenue neutral as Romney has claimed it would be.

THIS much can be said for the deficit plan that Barack Obama released today: at least it’s a plan. Mr Obama has spent the first two and a half years of his presidency talking grandly about the importance of getting the deficit down without ever laying out a credible plan for doing so, in the process ceding the initiative to Republicans.