Quote:
Originally Posted by PIMking
If they implement a fair tax how is taxing the rich more fair? So you say the rich should be punished for being successful? 10% tax on 1,000,000 is a lot more than 10% on 50,000...
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It isn't fair at all.
Point is that you're looking at a 10 trillion dollar debt that needs to be cut down. Maybe not completely, but at least to some degree.
How are you going to do that? Cutting spending works great for balancing the budget. For the time being. Increased revenues from an economy that will get back to 3-4% growth in the next 2 years will also help 'balance' the budget. Perhaps even run a surplus with time. But, its not going to pay off the debt. So you have to look at other methods.
I'm as libertarian as they come. But I'm not naive enough to say that not paying taxes is productive, nor do I think the rich people should be able to get away with paying 15% tax rates.