that you get by taking the upper income earners back to the 39 percent Clinton tax rates will nick the deficit by about 80 billion a year, this is impossible math if we continue to run deficits of 1.2 trillion this tiny tax increase means nothing. Personally I think both parties understand this and this posturing is going to ensure that all of the tax rates for all 100 percent of those that pay taxes goes back to the Clinton tax rates that in fact would raise enought to at least cut the deficit in half but it will hurt the lower income people and middle class the most, i.e., I would have to cut out something if my taxes go up 5 percent as I am barely making it now, if I am the micro scale than seen on the macro this will definately hurt the economy.
As for the DOD Yes sure Sequestration is a good start but again the more you take out of DOD the more jobs go away defense contractors, Civil service and active duty cuts all result in more people on the unemployment line, applying for EBT, Food Stamps and section 8 housing..... and all that money is added back to the deficit...
In any event I think we are going to get royally screwed one way or another and on top of that they will ultimately raise the SS and Medicare retirement age and probably force us all to pay more out of our checks for the Affordable Care Act....
Of course cut back far enough and raise taxes enough and you will eventually be able to bring the deficit down yeah broken on the backs of the middleclass and poor, something that I VOTED against...
Keeping my eyes open...
Peace!
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