In a recent article in the Economist, a new opinion is brought to the table concerning the debate on taxes between the Democrats and Republicans. As Republicans fight to stop a tax increase of 2 % of the wealthiest Americans, the Democrats insist it is necessary to solve the growing national deficit. However, the Economist suggest that even if this tax is passed it would only bring in revenue of about 34 Billion dollars, a miniscule amount compared to the national GDP. The fact remains that if the Republicans and Democrats do not agree on a tax agenda everyone’s taxes will be going up January 1st. Can Americans really afford a setback in setting an agenda in these hard economic times?
http://www.economist.com/node/17043472
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