The question is whether we reduce the deficit only through spending cuts, or also by raising taxes on the rich. This should be an easy issue for Democrats to stand on ... and run on. A recent New York Times/CBS News poll showed that 72% of of those surveyed agreed that federal taxes should be raised for households making more than $250,000 - including 55% of Republicans. Yet even with the GOP leadership far to the right of the country on this issue, Democrats haven’t taken an unequivocal position.
Who's speaking for this Republican majority (and most everybody else) in Washington? Only Sen. Bernie Sanders, Socialist from Vermont. Sanders has unequivocally said that he won't support a deal to raise the debt ceiling unless it includes higher taxes on on the rich. Where are the Democrats? Nancy Pelosi's been marginalized from the discussions, even though a deal won't be possible without the support of Democrats in Congress. The White House and Harry Reid have refused to take a firm stand.
Sanders laid out his position in a speech in the Senate chamber yesterday with a “shared sacrifice" theme:
"The wealthiest Americans and the most profitable corporations in this country must pay their fair share. At least 50 percent of any deficit reduction package must come from revenue raised by ending tax breaks for the wealthy and eliminating tax loopholes that benefit large, profitable corporations and Wall Street financial institutions. A sensible deficit reduction package must also include significant cuts to unnecessary and wasteful Pentagon spending."
The Republicans insist on rejecting a majority of their own voters, as well as 74% of Independents and 83% of all Democrats, by pushing for a plan that would reduce government deficits exclusively through spending cuts - cuts that affect the middle class, poor people, and everyone who hopes to receive Social Security and Medicare benefits someday.
The "shared sacrifice" principle expressed by Sanders also included demands that there be no cuts to Medicare or Social Security. The 50/50 goal is a reasonable one, which makes it surprising that others haven't embraced it already. In fact, the only problem with a 50/50 split is that it may be too reasonable, now that the rich have become so much richer and the rest of the country has been forced to struggle so much.
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