I don't disagree with any of the facts leading up to the conclusions.
The only problem with the "correct" conclusion is that raising taxes on the rich will not pay off the debt. Not even close. It will not even stop increasing the debt. The current deficit is $1.2 trillion, and the proposed tax increase on the rich will raise $350 billion in ten years. Make that $500 billion in ten years and it's still only reducing the deficit by 4% and continuing to make the debt bigger.
Forget "paying off the debt," and forget eliminating the deficit in any painless way such as merely taxing the rich. I'm not convinced that it needs to be done at this point, but if it does it is going to reqiuire pain, something that neither party is willing to admit.
ANONYMOUS COMMENTS WILL NOT BE PUBLISHED. And neither will racist,homophobic, or misogynistic comments. I do not mind if you disagree, but make your case in a decent manner.
I don't disagree with any of the facts leading up to the conclusions.
ReplyDeleteThe only problem with the "correct" conclusion is that raising taxes on the rich will not pay off the debt. Not even close. It will not even stop increasing the debt. The current deficit is $1.2 trillion, and the proposed tax increase on the rich will raise $350 billion in ten years. Make that $500 billion in ten years and it's still only reducing the deficit by 4% and continuing to make the debt bigger.
Forget "paying off the debt," and forget eliminating the deficit in any painless way such as merely taxing the rich. I'm not convinced that it needs to be done at this point, but if it does it is going to reqiuire pain, something that neither party is willing to admit.