Analysis of the Day II

U.S. News & World Report’s James Pethokoukis reports that, even if you’re not “rich,” your taxes will go up if Barack Obama is elected president. Pethokoukis notes that capital gains taxes are guaranteed to increase with Obama and a Democratic Congress (with the side effect of depressing stock prices). He also quotes the Stanford Group’s Greg Valliere, who predicts tax increase proposals beyond the 39.6-percent top rate, which is scheduled to return in 2010 when George W. Bush’s tax cuts expire, “to pay for Obama’s spending priorities.”