Couple Of Things

When taxes rates are as low as they are in the U.S., raising taxes raises revenue. Believe or not, it is orthodoxy among some groups that raising tax rates even when at the low level they were in the past few years will not raise revenue. Yet every tax rates are raised, so is revenue. Second thing: shrinking deficit is not good news. We should immediately slash the payroll tax rate again. Ask yourself why there is a gigantic fight over whether to raise income tax for the wealthy (class warfare!) but nobody put up a stink about a raise in payroll taxes. I'll give you a clue - payroll taxes disproportionately affect poor people.