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View Diary: The Rich Desperately Need Much Higher Taxes (40 comments)

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  •  We have a huge deficit (0+ / 0-)

    because of the collapse of the economy and the attendant loss of jobs.  We would have a much smaller deficit otherwise, one manageable by raising taxes just a bit and disengaging from foreign wars.

    The long-term debt will only be addressed by getting health care costs under control.  The rise in that one budget expense will destroy our economy in the long run.  The debt COULD be addressed by a Fed decision to forgive the $7 trillion of public debt they own, but that will happen only in my dreams.

    "In this world of sin and sorrow there is always something to be thankful for; as for me, I rejoice that I am not a Republican." - H. L. Mencken

    by SueDe on Fri Nov 19, 2010 at 08:55:47 PM PST

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    •  The deficit from the economic cycle is no problem (0+ / 0-)

      The deficit that comes at the top of the economic cycle because our taxes are too low to pay for the services we want is the problem.

      The Fed does not hold seven trillion in public debt.

      The US Senate is begging to be abolished. Let's fulfill its request.

      by freelunch on Fri Nov 19, 2010 at 09:36:59 PM PST

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