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November 10, 2012


Replies: 2

The Grand Bargain

vermtown Featured By Owner Nov 10, 2012  Student Writer
What represents a fair bargain in terms of deficit reduction? Some say 3 parts spending cuts to 1 part tax increases. Others shave half a percent both ways and ask for 2.5 to 1.5, but historically speaking those numbers are low ball at best.

After WWII The wealthiest paid as high as 94% marginal tax on income over 400,000 in order to pay off our war debt. A fair bargain considering the poor paid the highest cost which was with their lives, but during Iraq and Afghanistan we gave a tax cut to the wealthy while the poor still died.

A couple trillion on war, a couple trillion on tax cuts and BOOM a deficit appears. It is only logical that in order to stem the tide of fiscal insolvency we must ask the rich to do what they did in the past. Let history be our guide or let us be history.

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Devious Comments

hippo-rim-job Featured By Owner Nov 10, 2012  Hobbyist Artist
If history is really our guide, then the worst is yet to come, economically speaking.
Dkalban Featured By Owner Nov 10, 2012  Hobbyist Writer

The taxcuts for the rich were not needed; but the GOP did it anyway to appease their masters.

The real entitled welfare queens is the 1%
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