Sunday, Dec. 9, 2012 | 2 a.m.
There has been so much in the media about allowing the tax rate for the highest earners to return to where it was before the Bush tax cuts. I have a hard time understanding why there seems to be so much support for the rich even though the very rich represent only a small demographic of America.
The worst argument in my opinion is where some say that if the tax rate was “raised,” we would still have a deficit. Well, duh, if we cut 4.6 percent of the spending, which is how much some would raise the tax on the very rich, we would have a deficit also. The only solution is to do both, cut spending and adjust taxes.
One of the phenomena we don’t seem to include in all of this is that the earnings of the very rich have increased tremendously in the past 10 years while their tax rates have remained low. Has this led to job creation, an argument from those who support lower taxes? Not at all.
Most of the middle class have struggled to stay even, while celebrities and corporate executives have seen their earnings soar.
As long as we have not only legislators but also a divided America continuing to argue whether we should cut taxes or cut spending, there will be no compromise and therefore no solutions.
Neither party is completely right on the target yet, but as long as we the people remain divided, Congress will see no reason to be on task and look for the bits and pieces that they can agree on.