re: #219 Fozzie Bear

Well, the fact remains that the deficit would fall to half of what it is if the Bush Tax cuts expire, leaving rates at Clinton-era levels. Just doing that one thing would make the problem FAR more manageable.

Two things,

1. The dems haven’t made that proposal.

2. that’s “hypothetical” money. Hypothetically if you raise taxes, and nothing at all changes, then you’ll bring in the expected results. The problem is higher taxes puts a damper on activity. They never bring in as much money as they say when they raise taxes because people either stop participating or find a way around the higher taxes. (think cigarette and luxury tax increases)

I agree that we’re going to have to find a way to increase revenue and part of that is going to have to be with increased taxes. The problem as I see it is our economy is still floundering and raising taxes on everyone is a sure way to keep unemployment hovering around 10%.