[EGPWS]

The lefts goal is to achieve a “government takes all and divvies out wealth to the population as they see fit”.

[BobL]

As I’ve said before 90+% of the older people in this country will not lift a finger to bring down the cost of Social Security or Medicare (and that includes at least half of the older people on this site). The fact that those programs are about to bankrupt this country doesn’t matter to these people, as they only WANT THEIR MONEY back.

Since I have kids, I worry about what kind of country we’re going to leave them and I see it going one of three ways.

(1) We reform entitlements, with means-testing being a starting point...essentially turning those programs (Medicare and Social Security) into welfare programs. Beyond that, before the government steps in to give these people a ride on the backs of my kids and (future) grand kids, we institute a “parental support” law, requiring kids, that have the means, to pay into the support of their parents (similar to child support). If that isn’t enough, then the government steps in to provide some level of subsidence for them.

or

2) We raise taxes to pay for these programs...and raise them big time. We institute a European-style VAT, a European-level gas tax, an Income tax that reaches everyone, without loopholes (like the mortgage interest tax deduction), and maybe some other taxes for good measure. It will take all of this just to pay Social Security and Medicare.

or

(3) We do nothing and let the country collapse in debt (like Argentina and Russia) - which must and will happen, given our mismatch between spending and revenues.

Obviously, I favor the first option (reforming entitlements) since it leaves us with a low tax rate and doesn’t punish my kids, but I’ll take the second option over the third option (which punishes everyone). I realize that many on this site don’t have kids, so they may see it differently.

[sickoflibs]

RE :”The Europeans squeeze the middle class because that’s the only way to finance big government. That’s the point I made in this interview on Fox News.
To elaborate, European politicians have learned that there’s a limit to the amount of revenue that can be obtained by taxing the rich. In part, this is because there aren’t enough rich people to finance a bloated public sector.
But it’s also because Laffer Curve effects are very powerful at higher income levels. Simply stated, rich taxpayers usually have much more control over the timing, level, and composition of their income...
It’s quite likely that European nations maxed out on the amount of revenue they can collect from the rich, which is why they started going after the middle class.
The same is true in the United States. The New York Times already has admitted they want higher taxes on the middle class. And as you saw in the clip above, Senator Schumer views higher taxes on the rich as a “start.”

This is their ultimate goal of raising taxes on the rich first, to tax the rest of us more; You can see that here in Maryland where Dems raise taxes on the rich as a chaser for all the taxes they raised on the middle class.

Ironically Obama to get re-elected has consistently ran on lower taxes for most people, but wait till after the election. I expect he will (would) veto tax cut extensions.

[tet68]

Of course, it’s clear that even taxing the so called
wealthy will not be enough to cover the “entitlement”
so the middle class is the only ones left with any
money.

[Alberta's Child]

Personally, I have no problem with a highly regressive tax system -- even if it means taxation that seems onerous for middle-class and lower-class citizens.

The simple truth is that this kind of taxation is the only way to ensure that a person or family pays taxes that are roughly commensurate with their use of taxpayer-funded services and amenities. This is why the AMT should be amended to include a flat minimum tax (say, $5,000) that each and every adult person in the U.S. must pay, no matter how little "income" they report.

[SaraJohnson]

To statists looking for taxes to “balance the budget” anyone not on welfare and receiving benefits becomes “the rich.” In the meantime, it seems noone you really know in life qualifies for the benefits.

The Left did this in the US before they were canned by Reagan and Newt. The Buffet tax is the camel’s head in the tent.