A Presidential Glimpse of the Future of Your Tax Bill

Your taxes are going up very soon.

How do I know this?

All I had to do was watch President Obama last night and listen to his words.

How much will they go up? That will depend upon Congress, and we have no guarantee that if they decide you should pay more than someone else - even up to 90 percent -- that Mr. Obama will go to bat for you. Or even whether he agrees with the idea of equal protection under the law.

How do I know this?

All I had to do was watch President Obama last night and listen to his words.

Here's Jay Leno, discussing HR 1586, which passed the House on Thursday, 328-93.

LENO: Today they passed this thing that says we're going to tax 90 percent of these bonuses. And the part that scares me is, I mean, you're a good guy –- if the government decides they don't like a guy, all of a sudden, hey, we’re going to tax you and then, boom, and it passes. I mean, that seems a little scary as a taxpayer, they can just decide ... (commercial break) ...

Before the break I mentioned that they had just passed this new bill which will tax them 90 percent -- and I said it was frightening to me as an American that Congress, whoever, could decide, I don't like that group, let's pass a law and tax them at 90 percent."

How does the president respond to this question? Does he put his (and our) fears to rest?

President Obama: Well, look, I understand Congress' frustrations, and they're responding to, I think, everybody's anger. But I think that the best way to handle this is to make sure that you've closed the door before the horse gets out of the barn. And what happened here was the money has already gone out and people are scrambling to try to find ways to get back at them. The change I'd like to see in terms of tax policy is that we have a system, going back to where we were back in the 1990s, where you and I who are doing pretty well pay a little bit more to pay for health care, to pay for energy, to make sure that kids can go to college who aren't as fortunate as our -- as my kids might be. Those are the kinds of measured steps that we can take. But the important thing over the next several months is making sure that we don't lurch from thing to thing, but we try to make steady progress, build a foundation for long-term economic growth. That's what I think the American people expect."

No, he does not address Leno's question, not even indirectly. Mr. Obama does not say whether he is for or against a 90 percent tax on guys "they don't like."

But he does say that tax policy needs to change so that "you and I who are doing pretty well pay a little bit more" to pay for health care, energy, college for poor kids.

"Measured steps." By whose measurement? Congress? According to their measurement, a 90 percent tax on the evil, undeserving rich is perfectly fine, and no problem if state and local governments want to grab the other 10 percent.

Tax laws originate in the House of Representatives, then are debated and passed in the U.S. Senate. This is Congress. If we cannot count on a responsible, just Congress, we have to look for a responsible, just President.

There is no evidence, yet, that we have one.

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NOTE: You can read the entire transcript of last night's "Tonight Show" HERE.