We noted twice that Obama fails to understand that raising capital gains tax rates reduces capital gains revenue. Ditto Hillary.

MR. GIBSON: Would you propose an increase in the capital gains tax?

SENATOR CLINTON: You know, Charlie, I’m going to have to look and see what the revenue situation is. You know, we now have the largest budget deficit we’ve ever had, $311 billion. We went from a $5.6 trillion projected surplus to what we have today, which is a $9 trillion debt.

What revenue situation? Raising it means less money. So is she imagining a time when the treasury’s coffers are flush that we can afford to forgo revenue just to spite Americans who earn capital gains?