puffgeezer
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Apr-19-2002
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Message #173308 posted by puffgeezer (Info) March 11, 2008 22:50:23 ET
In Reply to: Mrs. Clinton would not be a deficit spender posted by Shootist (Info) March 11, 2008 18:29:52 ET
Shootist,
"And we still have to *fix* Medicare and Social Security."
The "Warren Buffett Solution" is the only way out of the squeeze IMO. The top 5% of earners account for 35% of income and pay about 60% of taxes. This seems unfair, but the politicians know that the top 5% also have over 60% of the wealth in the country.
Raise income tax rates on the top tier, impose a stiff estate tax, and ta da, problem solved. Then, brace yourself for the unintended consequences and the further weakening of the U.S.
Our politicians have over spent and over promised, and have to soon starting coughing up the dough in unprecedented quantities. Why go after the rich? Willie Sutton robbed banks during the Depression because, he explained, "That's where the money is."
Puff
http://www.taxfoundation.org/taxdata/show/250.html
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