Mr. Obama has proposed eliminating the Bush tax cuts for the rich, which is fine. However, not for another two years! Let's see now: the wealthy have enjoyed lower taxes for over six years, reducing Federal income and increasing the deficit by several hundred billion dollars a year.
Even with the global financial collapse, the wealthy can afford to pay taxes, but we will be giving them two more years of windfall. With an enormous deficit this year, can we really afford to be so generous to those who need it least? Restore tax progressivity to those making over $250,000 per year, NOW!
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