So taxes will be going up. As a matter of political strategy -- not to say survival -- Republicans will have to agree to raise taxes on those defined as rich. It's...
This is a well thought out and arranged argument, even if I don't disagree with it. If the thesis were correct, why didn't the system collapse in early eras with much higher marginal rates on the highest earners?
Realistic Republicans understand that President Obama and the Democrats head into fiscal cliff negotiations in a far stronger bargaining position now than in 2011. When voters were asked on Nov. 6 whether they favored raising taxes to reduce the deficit, a total of 60 percent said yes (47 percent favored increasing taxes for those who earn $250,000 or more, and 13 percent approved tax increases for all).
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