Then, you will agree that the tax cuts implemented by Bush need to cease. Am I correct? And do you also understand what he further said about the top 5% of the rich people in the US have 40 trillion dollars worth of assets, way more than the other 95% combined. Do you think this is healthy for the economy? Do you not think that the uber-rich should be taxed just a little bit more, to , at least, help pay for the wars their administration initiated?
I don't know if the 40 trillion number is accurate, so I can't say.
I think if we are going to keep spending the amount we currently are, we all need to be taxed, A LOT MORE. The current situation is unsustainable. A 1.3 trillion deficit is not going to be fixed by raising the top marginal rate 3%. 1.3 trillion is just shy of the total amount the U.S. government takes in from everyone through income taxes, which is about 1.1 trillion.
So, since you shouldn't be making these decisions for anyone but yourself, would you be willing to accept an effective federal income tax rate double your current rate to fix things? (Assuming you have income sufficient to actually warrent paying federal taxes under the current tax code. Which isn't to imply anything, but it's an important distriction since some folks don't really pay all that much tax under our progressive income tax structure.)
To answer the question myself, I wouldn't. If withdrawing from Iraq more swiftly and accepting defeat in Afghanistan is a necessary evil to prevent it, I'll accept the outcome. Although I would hope we could omehow avoid declaring defeat.
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