How long have the Bush tax cuts been in place? And, how deep in debt are we? Clearly that doesn't work either. Otherwise, we would all be making more money, we would have had to bail out the banks, and we wouldn't be Trillions more in debt since they were enacted.
Do you believe that if we raise taxes, the wealthy are going to say "That's enough, I'm going to stop making money so I don't have to pay the higher rates?" I don't think the rich will decide to become poor to escape paying taxes.
If the Administration repeals the Bush tax cuts, I'm not going to stop trying to become wealthy. Are you?
Best,
Robert A. Franco
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