Raise taxes and cut spending, business economists say - Economy Watch The GOP will continue to reach for tax cuts for the wealthy. Their plan flys in the face of what the "job creators" say is needed. Mitt says Cut Taxes for the wealthy...and yet he still sees reducing the federal deficit...He will get rid of many of the tax dedcution the middle class need. That will offset his tax cut for the wealthy. Oh and Mitt thinks Middle Class is $200,000 to $250,000... Maybe in his priviledged world it is!