“One of the positives from this deal is we can make the argument that since we’ve raised taxes on the rich, now it is time to make the cuts.”
I agree, though the media will try to make that moot and will probably succeed.
Nonetheless taking money from investors keeps them from investing it.
Unarguably.
And investment is the only thing that will put growth in the economy.
So ‘taxing the rich’ is hurting everyone.
With one proviso:
Investments need to be made in America.
Not China, Europe or anywhere else.
America.
“And investment is the only thing that will put growth in the economy. So ‘taxing the rich’ is hurting everyone.”
Completely agree that growth is the only way out of this mess. Problem is convincing the ‘low information’ person that taxing the rich will not solve the problem.
To an extent, Obama has worked himself into a box. He’s got the tax increases on the rich which he said would solve the problem. Now what? He said today, he’ll need more tax increases. The GOP needs to use this admission to advance the argument that tax increases will never be sufficient.