So taxes are going up......ummmm..thanks I think we all knew that. We know after BO won the election, taxes for the wealthiest will be going via marginal rate increases or limiting deductions. The Dem's favor the former and the Repub's favor the latter. I would prefer limiting deductions as that seems like an equal revenue items and raising rates is not the best elixir. But let's focus on the other HUGE issue here. Raising taxes on the "rich", will not solve the problem. The deficit is still massive and with the middle tax reduced tax rates along with massive entitlement issues. The POTUS and speaker can go back and forth, but the headline of taxing rich and spending cuts that are phantom do not fix the problem.
It is very disappointing that after an election people can not honestly discuss the issues and propose plans that are balanced and actually fix the deficit. Fine, tax the rich, but then also find $3 trillion in other cuts that actually bring the spending in line with the minimum deficit that ratings agency wont cut our rating again...
We can do better......more to come