Raising taxes in this economy looks like a truly bad idea to me.
Not that our system doesn't need reform, but right now?
Bad idea.
I thought the same way as you....but I'm not so certain anymore....not after hearing that those at the very top are NOT spending the huge tax breaks they got on creating jobs or expanding businesses and are only pocketing their tax breaks.
If they were using their humongous tax breaks given to them on "creating jobs" then it would be a bad idea to kill them, but SINCE THEY ARE NOT, I don't see it as much of a problem as I once did....
I see it more beneficial to reduce our deficits.
And yes, congress needs to stop increasing the deficit through their over spending as well....
People thought the Clinton tax hikes on the highest income earners was going to absolutely kill the economy, but they did not....they showed fiscal responsibility....
those tax cuts to the upper echelon out there now, came from the working man's social security surpluses....and we no longer have those surpluses, we are going in the deficit on social security payments now....something HAS TO GIVE.
Where did you hear that?
On the 24/7 about 3-4 days ago....it was a business show....can't remember which one....might have been on the Bloomberg network?
the gist was that the upper echelon was NOT spending their money to create jobs....the two things discussed were:
1. was it because they did not want to see Obama's success with hiring and are waiting and holding back intentionally until after the election...?
2. was it because of uncertainty?
either way, they are not investing these huge tax breaks of theirs, in creating jobs.