Quote:
Originally Posted by buckman
He will have to make 12$ in cuts for every dollar confiscated from people and couples making 250k or better just to not increase the deficit
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Correct. These tax hikes will account for about 1/12th of this year's deficit. They will not provide for one cent to pay down th eexisting debt. If these tax hikes were 12 times higher that what he is proposing, it would still go towards reducing next year's deficit, not one cent would be left over to pay down the existing debt.
It's meaningless. It sounds great, because Obama can tell his base that he's taxing those who can afford it. But it has no meaningful impact. None whatsoever.
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