Usually in politics, the correct solution is one everyone hates, and that is one where we A.) Cut back government spending and B.) Raise taxes at the same time. This will happen in the next decade, or the Fed Funds rate will be around 8% or higher.
By simple math, this is true, the most direct way to erase a deficit. And it's unlikely that people will support it anytime soon.
Originally Posted by Didums
My family is in the top 1% of income. My parents don't mind paying more taxes.
Get that blender ready.
Couldn't this also be used to support the opposite claim--assuming that your family is thus generous--that they would give money to the needy with or without taxation directing it for them?
Last edited by Cimarron; 02-27-2009 at 10:01 AM.
Reason: forgot Didums' post
It's a very smart political move to make this pledge to counterbalance the news about stimulus spending going on right now. Let's hope they carry through with it.
But it is in total conflict with this so it puts the US in a precarious situation. At this point he can't have his cake and eat it to. Since the economy has gone from crisis to borderline catastrophe, I would think he would choose to focus on it right now. Put his agenda of health care and other items on a back burner until we stabilize our current mess.