For the price of the Iraq War, we could make everybody in Virginia rich enough to have a portion of their taxes increased by Barack Obama.
Barack Obama plans to raise taxes on income over $250,000 per year. Whether people in this bracket experience a net tax increase under his plan will depend on their overall tax situation. The population of Virginia is 7.7 million. Giving all Virginians $250,000 to raise them to the tax bracket where they'd experience some portion of Obama's tax increases would require $1.93 trillion, which is less than Joseph Stiglitz and Linda Bilmes' estimate of $3 trillion for the total cost of the Iraq War.
