Calvin H. Johnson (Texas), Tax Reform and the
Presidential Election, 137 Tax Notes 676 (Nov. 5, 2012):

Johnson describes the tax plan of Republican
presidential nominee Mitt Romney as aggressively promising tax cuts for the richest
taxpayers. Although Romney promises no increase in the deficit or tax increases for middle-income earners, it is impossible for him to keep all three promises. Johnson argues that the wealthy will need to share in the closing of the deficit because
that is where the money is. Wealth is distributed unevenly in this country: One-third is held by the top 1%, and 58% is held by the richest 5%. Taking a needed dollar from the rich does less harm to the sum of human happiness than taking it from the poor.

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