You've completely avoided my Higher Taxes = Greater Revenue thread yet here you are repeating the lie that Higher Taxes = Greater Revenue. If you have some proof of your claim that Higher Taxes = Greater Revenue then please, go to my thread and share it with everyone.
So you believe raising taxes on the "rich" from 35% to 39.6% will balance the budget? Lets look at some numbers...
http://www.bea.gov/national/index.htm#gdp
2010 GDP: $14,660,400,000 ($14.6 trillion)
2010 Spending: $3.552 Trillion (24.2% of GDP)
2010 Revenue: $2.381 Trillion (16.2% of GDP)
Revenue as a % of GDP hit an historic high at 20.9% and that happened when tax rates were "at their lowest rate in years". You believe raising tax rates to 39.6% will cause revenue to be 24.2% of GDP? Based on what?
From 1968-1981 the top marginal rate was 70%, that's double the current rates, and revenue as a % of GDP never broke 20% of GDP. Raising tax rates does not cause an increase in revenue as a % of GDP and it will not eliminate our deficit.
We have a spending problem, not a revenue problem, and your "social safty net" is eating up the lions share of the revenue we bring in. Your plan to tax and spend doesn't make the debt or deficit go away. The only way to get control of the deficit, and eventually the debt, is to cut spending to the point where spending is less than revenue.
