Originally Posted by Rohirrim
Because look around. This is the result of 30 years of tax breaks for the rich. The biggest mistake that happened in this country is when Reagan convinced a bunch of people that the government is our enemy. What factor created the greatest growth in our history? Investments in infrastructure, education and science. Not giving billionaires more billions to stash offshore.
Eliminating the current tax rates for those who make over $250,000 per year would only reduce the $1.2T deficit by 5%.
The deficit would still be $1.14T. If we do the arithmetic, Obama's solution is no solution at all.