Post by MacBeth on May 31, 2011 11:33:24 GMT -5
The House looks set to vote today on a doomed proposal to raise the debt ceiling without making cuts in spending. We're not yet out of the phase where the parties are jockeying over how much of their vision for government can be accomplished here.
Republicans want all spending cuts and no increased taxes. Democrats are open to reducing spending but think raising taxes, specifically on the wealthy, should be part of the plan. Take away the cost of two wars and getting out of the Great Recession, and you've still got the Bush tax cuts as the major cause of America's present fiscal woe.
Today the Center on Budget and Policy Priorities runs the numbers on who pays taxes in this country -- and not just income tax, but the others as well. Proportionally, as you can see in the chart, it's the ordinary folks.
maddowblog.msnbc.msn.com/_news/2011/05/31/6754909-chart-the-myth-of-shared-sacrifice
Republicans want all spending cuts and no increased taxes. Democrats are open to reducing spending but think raising taxes, specifically on the wealthy, should be part of the plan. Take away the cost of two wars and getting out of the Great Recession, and you've still got the Bush tax cuts as the major cause of America's present fiscal woe.
Today the Center on Budget and Policy Priorities runs the numbers on who pays taxes in this country -- and not just income tax, but the others as well. Proportionally, as you can see in the chart, it's the ordinary folks.
maddowblog.msnbc.msn.com/_news/2011/05/31/6754909-chart-the-myth-of-shared-sacrifice