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Just feeding my need to be devils advocate here:
Let's just tax anyone making over $250K at 100%. Let's just quit messing around and do it right once and for all. Those rich bastards probably just screwed someone else and took their money and called it "making a profit", so lets just fix 'em and tax 'em at 100%.
"...let high-end tax rates return to where they were during the Clinton years and use the $65 billion in additional income over the next two years for tax breaks for businesses that increase investments or hire new employees. After that, the extra revenue would go toward deficit reduction."
Well, hell, Health Care Reform takes virtually all of top earners’ ordinary income tax to 44.6 percent, starting in 2013 with the increase in the Medicare tax. Going back now to the Clinton-era rates of 40.8 and 43.7 percent in the top brackets would essentially give Obama his wish a couple years early.
And does anyone really believe that the BEST path to deficit reduction is raising taxes? We're already in a recession, so lets take money out of the economy where it might actually be put to use, just so we can make government flush?
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