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Laura Ingraham: Did "BHO" Push Out Petraeus to Keep Him Silent About Benghazi?

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lostlakehiker11/09/2012 5:27:52 pm PST

re: #266 Gus

There’s 1000s of things we can do. The idea that the only answer is just tax cuts for the rich is absurd. We’ve had freaking tax cuts for the rich since 2006. Those were supposed to create jobs in the millions. We barely got a drop and instead an increase in debt. So that’s it? The GOP answer to everything is just “oog, moog” tax cuts for the rich?

Tax increases on the rich won’t raise any sum of money that’s meaningful in the context of a trillion-plus annual federal deficit. Talk of tax increases on the rich serves only to obscure the scope of the problem. If you levied a 100% tax on everybody making more than a million, and kept everything else the same, and if those high-earners just went along earning like usual and then signed over their entire paycheck to the federal government every year, it wouldn’t put much of a dent in that deficit.

Either taxes have to go way up on pretty much everybody, or spending has to go down significantly, or some mix of the two.