Saturday, December 08, 2012

"BARACK OBAMA AND THE DEMOCRATS may well get higher tax rates. But it's not likely that high tax rates can ever generate enough revenue to fund unreformed entitlement programs."

My thoughts follow along the lines of Ann Coulter and Milton Wolf. Republicans should take Obama at his word on the tax rate hike and let him have it by simply voting 'present' en masse. They should then propose and promote, but not submit for vote, equivalent tax code changes (limits/removals of loopholes and deductions) that will result in equal or greater government revenue.

It's important to note and extensively publicize the fact that most 'loopholes' and deductions are used solely by 'the rich' -- about 70% of American taxpayers do not claim any deductions in their tax returns (2010 data).

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