Quote:
Originally Posted by will76
Taxes on everyone, including the rich need to be increased unfortunately. Bush and Obama have dug us so deep in the hole (14 trillion in debt and growing every min) that we don't have many options to pay that off and get it under control. Revenue from Income tax is by far the biggest source of revenue for the govt. It's just common sense that they will have to raise taxes, for everyone. They also need to cut a lot of govt spending as well. We going to have to tough it out as a country for 5-10 years if we want to get a handle on this, if not it will sink us into a depression.
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Well no one can touch Social Security, Medicare or the military which make up the VAST majority of the budget so how are they going to cut spending if you start off with those 3 things as "hands off"? That's 61% of the budget. another 9% is interest on teh debt so you can't cut that. It is what it is. So that leaves 30%. What are you going to do, cut that part in half?