Obama Announces Re-election Bid

[Fair&Balanced]

Originally Posted by TheMercenary

Good post. Although your agnst for one party while ignoring what the other has done or not done over the last 15 or 20 years is a bit over the top.

Sorta like you forgetting that the biggest deficit spenders over the past 30 years were Bush (#1) and Reagan (#2)

We can fix a lot of these problems with a flat or fair tax. You could take 100% of the money from the top 1 or 2 percent and it would not finance us out of our problems for a month. Spending has to be cut, period. The deficit needs to be addressed for the long term but not the short term. First cut spending.

I havent seen any flat or "fair" tax proposal where the numbers work or that is not highly regressive.

In fact in the few highly industrialized countries where they were attempted, they failed miserably in meeting revenue projections.

If you have the details of proposal that dosnt rely on voodoo economics, I'd love to see it. Most of the proposals are short on details and heavy on ideological (and unsubstantiated) assumptions.

But, in the meantime, both the CBO and the Joint Econ Committee have found that extending the Bush tax cuts on the top bracket will cost $3-4 billion over the next 10 years.