Obama tax-increase designs not likely to shrink deficits, debt 

"History shows the more politicians raise rates, the more they carve out complex exemptions to benefit favored industries or causes.

Want proof? Look at the exemptions the Obama administration insisted on including in the recent tax-raising “fiscal cliff” deal. Even as Obama sought a major tax increase, Reuters reported his administration insisted on around $64 billion in tax breaks for “companies involved in wind energy, auto racing, rum, Hollywood films and much more.” Apparently Obama's call for shared sacrifice doesn't apply to Hollywood millionaires, just those who can't afford a lobbyist."     [News OK]