"I call it like I see it, the government has orchestrated a big, fraudulent scam that harms our economy and puts young people in debt for years. Don’t let them get away with it." -- Daisy Belden

In his FY 2016 budget, President Barack Obama proposed $1.44 trillion in new taxes over the next ten years. Though his tax proposal is not likely to be passed by Congress, it comes on top of hikes he already managed to enact, such as the fiscal cliff deal that increased taxes by $620 billion and the $1 trillion of taxes in ObamaCare. Conservative activists, rightly, slammed the tax hikes, which have contributed to a slow economic recovery in the aftermath of the Great Recession.

Suppose that officials from federal, state, and local governments developed a new system of collecting revenue at the beginning of the year. Instead of taking portions from each American’s paycheck throughout the year, they decided to take every cent Americans earned from January 1st until the day that all revenue had been collected for the year.

President Barack Obama has tipped his hand on how he plans to pay for his budget-busting spending increases. Media reports indicate that he plans to roll out several tax hikes totalling $320 billion in his State of the Union address on Tuesday, including raising the capital gains rate and imposing a tax on big banks' liabilities.