The real world

Reader comment on: Obama Versus the Billionaires

Submitted by J.Johnson (United States), Sep 21, 2010 11:13

The fact is, taxes are going to be going up because the govt is deep in debt and getting deeper by the minute. The real question is therefore to decide who is going to get hit first and I can see no good reason to not start with the richest taxpayers and work downward. Ideally, the govt would cut spending and there would be no good reason to raise taxes. This is not going to happen, at least not to the extent that tax increases are also not going to be needed to at least partially close the very deep hole we're getting in. I really don't care what billionaires would do with their tax savings, whether its put to work in the bond market or stock market or yacht market or vacation home market or any other market. It is very sad that our country is in such a financial mess, but it is. So, if taxes are going to go up to reduce debt and offset even more borrowing from the Chinese, then I say that making the highest income households pay more taxes is better than whatever effects flow from their spending and/or investing.

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Other reader comments on this item

Title By Date
⇒ The real world [197 words]J.JohnsonSep 21, 2010 11:13
[w/response] [188 words]
AdamSep 21, 2010 10:31
The statement could be parsed 2 ways. [59 words]LyleSep 20, 2010 23:17
Fight the fight
[w/response] [129 words]
benSep 20, 2010 21:07
Feeling put upon? [145 words]Liberty60Sep 20, 2010 21:00

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