Wall Street Journal explains why taxing the wealthy won't work

Why is it that the Wall Street Journal is the only newspaper to actually run the numbers?
WSJ analyzed Obama's proposal to tax the wealthy to help control the deficit.

A tax policy that confiscated 100% of the taxable income of everyone in America earning over $500,000 in 2006 would only have given Congress an extra $1.3 trillion in revenue. That's less than half the 2006 federal budget of $2.7 trillion and looks tiny compared to the more than $4 trillion Congress will spend in fiscal 2010.

No kidding?
So you're telling me that Obama's suggestion that we could tax the rich to make up for his budget shortfall was bullshit?
Who woulda guessed?