Wednesday, July 15, 2009

Verrrrry Interesting Editorial from the WaPo Editorial Board

The Deep-Pockets Mirage
House Democrats would have us believe that the rich can pay for it all

This is the editorial board of the WaPo talking here. After they give the obligatory head-nod to a more progressive tax structure, they say the following:

The long-term deficit is driven by the aging of the population as well as by growing health-care costs, both contributing to Social Security and Medicare expenses. There is simply no way to close the gap by taxing a handful of high earners. The House actions echo President Obama's unrealistic campaign promise that he can build a larger, more progressive government while raising taxes on only the wealthiest.

And if they cannot close the gap by taxing just $350k+ households then they will have to push their surtaxes downward onto lower and lower income brackets until they pass through the promised $250k threshold.

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