The Obama Years- A GOP love story

[JoeRedskin]

Originally Posted by NC_Skins

The problem I mostly have are the tax havens and loopholes the ultra rich use to avoid taxes. You have your guys like Mitt dodging taxes like a mofo and paying some stupid rate like 14% or lower (which is why he didn't show his taxes in length).

The guys making 250k aren't dodging taxes, aren't using tax loopholes. (for the most part) Personally, I would move that tax increase to 1 million and then close ALL tax loopholes. It's never going to happen though because the people voting for it are millionaires themselves.

Okay, ignoring the philosophical/ethical issues underpinning the pros and cons on wealth redistribution in this fashion - let's just say we do this. You don't come anwhere near closing the revenue/spending gap. It's barely a start. I haven't googled the numbers but let's just say such a move covers 30% of the revenue/spending deficit (and I think 30% is a huge overstatement).

Where's the other 70% coming from?