|11-09-2012, 02:36 PM||#14|
Join Date: Oct 2004
Location: PDX (Portland OR)
J. D. Walton
Obama has nothing to lose by pushing for the increases on the upper classes. He campaigned on that point, and he won the election. The Bush cuts for the wealthy are dead, either in the lame duck, or in 2013.
It is also true that there are going to have to be increases on the middle class and taxes in general, combined with the spending cuts. We have been living a standard of living that is based on debt, which is exactly why the housing bubble popping burst the economic bubble in general, and why so many people ended up upside down.
Taking out home equity loans then buying TVs , clothes , cars etc. with the
money from the homes and then being surprised when everything went to hell in a hand basket.