Katrina vanden Heuvel, writing in the Washington Post, says a group called Patriotic Millionaires for Fiscal Strength is urging President Obama not to cave into the demand of Congressional Republicans to give the super-rich a super big tax break. Meanwhile, the Committee for Economic Development has released a poll indicating that a majority of business leaders think the campaign finance system needs reforming to reduce the pressures of fundraising and the corrupting influence of secretive special-interest spending in elections. Responsible business leaders think beyond the short-term and selfish payoff, but we don’t hear enough from them lately. Katrina says such leaders once had a larger voice in the Republican Party. She writes: “During the golden era of the 1950s, a Republican president, along with Republican members of Congress, accepted a top marginal tax rate for millionaires that was 91 percent. ‘The only way to make more tax cuts now is to have bigger and bigger deficits and to borrow more and more money,’ President Eisenhower argued. ‘This is one kind of chicken that always comes home to roost. An unwise tax cutter, my fellow citizens, is no real friend of the taxpayer.’”
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No the solution to the deficit is to cut spending. We need to evaluate each federal department and see if we still need the service and cut where we can do without that service. Our government has wasted billions of dollars on global warming research without listening to dissenting views. We are rebuilding mosques throughout the world, spending is out of control and federal workers are receiving high pay with generous benefits. Salaries need to be cut.