Can Congress Raise Taxes on the Rich without Raising Their Rates? Maybe
Can Congress Raise Taxes on the Rich without Raising Their Rates? Maybe
So it seems that it may be possible but only with a lot of complexity whereas simply moving the marginal rate, which will move with NO action seems simple and not complex. This seems like a pound of flesh mentality. I still advise to move forward with the Democratic plan as is and wait to see how the House responds. The Democrars and the White House don't have any leverage until January 1 so don't give it away as it may be needed to ensure a resonably and hopefully longer term debt ceiling relief. I would love to see the ceiling raised to 20 trillion so we can get work rather than debate whether or not we will honor our obligations. It seems inconceivable that we would not do this and do this always. If we want to reduce the debt simply do it the normal way have more revenues than expenditures.
So it seems that it may be possible but only with a lot of complexity whereas simply moving the marginal rate, which will move with NO action seems simple and not complex. This seems like a pound of flesh mentality. I still advise to move forward with the Democratic plan as is and wait to see how the House responds. The Democrars and the White House don't have any leverage until January 1 so don't give it away as it may be needed to ensure a resonably and hopefully longer term debt ceiling relief. I would love to see the ceiling raised to 20 trillion so we can get work rather than debate whether or not we will honor our obligations. It seems inconceivable that we would not do this and do this always. If we want to reduce the debt simply do it the normal way have more revenues than expenditures.
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