The "miracle" will be the rich actually giving up their wealth on their own accord. How long can these economic imbalances be maintained? If something can't go on forever, it won't. Do we want to wind up like Czarist Russia? Like Venezuela? I hope not. Come on, people, what's our plan?
True, but people in these areas of the country always have the option of moving (or even finally retiring) to lower-cost areas. It's a personal choice to live in these areas; should the rest of the nation subsidize that?
Curious logic... 50% of the population pays zero federal income tax... and those are the folks "subsidizing" the ones who pay unfairly high taxes?
Obama is an hero. Opposing the unjust tax cuts for the wealthy is the first step to rightiousness Plus, all here who are in favor of tax cuts, you are idiot. I bet you don't even make $50k a year cause you're a lousy trader so why complain about tax cuts that expire for people making over $200k a year. I just love poor people defending rich people, like stockholm syndrome
One school of economic trickery has it that if you cut taxes government revenues will rise rather than fall. It seems that under some circumstances this could even be true. Didn't this, in fact happen during the Reagan Presidency? But if it did happen, how would you separate the revenue increase resulting from tax cuts from the revenue increase resulting from massive simultaneous borrowing and spending? The cuts, borrowing, and spending were all occurring at the same time. (Somewhere out there there has got to be an economist who has figured it all out.) (Disclaimer: I have no proof that anything I have written above is true and I am not inclined to even attempt to prove it is true. Everything I wrote is mere hand waving -- there now, you've been warned! .)