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Voters gave president, Congress a second chance on budget.
Let's see if Barry can put together a realistic proposal to work with. He is the President and needs to step up and show some leadership this term which means real cuts. No one ever believed his claim that taxing the uber rich was the solution to all of our woes. Election's over Barry, time to start showing your cards...
"No one ever believed his claim that taxing the uber rich was the solution to all of our woes" This is true, elmore1, because Obama never said it. He has said raising tax rates on the top percentile had to be A PART of deficit reduction legislation, not the whole enchilada. It's going to take a balanced package of increased revenue and decreased spending - over a period of time, this won't happen tomorrow - to tackle our debt. Done properly, the pain will be shared. We'll see.....
A tax on financial transactions to replace all other taxes is a viable, workable, easily collectable tax that would decrease every individual's federal tax burden--rich or poor. It is progressive since large transactions-those involving investment banks, for instance-would produce most of the money. The bankers oppose the idea and claim it would shut down the markets. It wouldn't, of course, but the fact that no one seriously discusses the tax shows you the influence the financiers have in government circles.
Bill Kristol on Fox just said the Repubs should agree with Obama's plan to continue the Bush tax cuts for 98% of the country, and let them expire for those making above $250,000/yr. Unbelievable.
Dust off Simpson-Bowles and start from there. And yes, raising taxes on the top 2% won't solve the problem, but it should be part of the solution. While we're at it, reform the tax code to weed out subsidies for those who don't need it--like big oil and big ag. Yes, let's gore some ox.
Not one time has the Star Tribune held either Sen. Klobuchar or Sen. Franken to account for the fact the US Senate has not submitted an actual budget the last 4 years. They want the R's to be serious when the D's aren't? Come on Nancy Barnes.....when are you going to act like a real journalist? If the Bush Tax Cuts went to EVERYONE, then it's only fair, just and equitable that the Bush Tax Cuts be rescinded for everyone. You will never hear the words "Bush Tax Cuts" ever, ever again.
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