The Wall Street Journal’s Steve Moore says Obama’s tax plan would add up to a 39.6 percent personal income tax, a 52.2 percent combined income and payroll tax, a 28 percent capital-gains tax, a 39.6 percent dividends tax, and a 55 percent estate tax. In other words, Sen. Obama is a very-high-tax candidate. Whether Wall Street has fully discounted this, I have no idea. Probably not yet. But somebody in the investor class ought to be thinking about it, because it’s not good.

Interestingly, at least two of Obama’s top economic advisors — Austan Goolsbee and Jeffrey Liebman — are highly regarded free-market economists. Goolsbee from Chicago, Liebman from Harvard. But somehow their candidate has a very punitive high-tax campaign plan for the economy.

A 52.2 percent combined income and payroll tax. That’s half of your income going straight to the government, America.

Ask yourself what you’re getting in return, and ask yourself if it’s worth it.