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The Debt Spiel

The Debt Spiel

September 20, 2011  |  Share

If you thought people were disappointed in August with all of the grandstanding and political posturing around the debt deal, wait until you get a load of this. The Debt Deal has morphed into the Debt Spiel.  And instead of across the board cuts to the budget and scaling back on entitlements, the President’s proposal is to cut half of the money by levying taxes on the wealthy.  We are all for closing questionable loopholes but we have to call out the Boss for basically declaring class warfare.  It is just so patently political to galvanize the base by blaming the wealthy for our country’s mounting debt.  It is a common complaint that the wealthiest citizens don’t pay their fair share.  But the reality is more than 40 percent of Americans don’t pay any income taxes at all. 

 

 

 

 

 

 

http://www.washingtonpost.com/business/economy/obama-proposes-new-taxes-on-wealthy-for-half-of-debt-plan/2011/09/19/gIQATnkNfK_story.html?hpid=z1


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