Resa Harrison [DRC, Dec. 13] states that “... allow tax cuts to the top 2 percent to expire ... will raise trillions ... and heal the budget deficit.” I would like to see where that statistic was obtained.
The real numbers are that the higher tax rates would generate $56 billion a year and would account for a 5 percent reduction in the $1 trillion a year deficit. Not even close to the trillions the class warfare generation seem to think. Where do these facts come from? From “Obama’s own plan to reduce the deficit” (pages 218-219).
If the tax rates on this 2 percent were raised to 100 percent, the money collected would run our government for 60 days, again a far cry from healing the deficit. It is plain to see that taxing the rich is not the answer. However, perception is reality.
Harrison claims that the president won a mandate from the people. What was won was the class warfare battle that liberals have been waging for decades. Exit polls showed that more that 51 percent of voters now believe that the government should take from the rich and redistribute that wealth to those who have less.
This group further feels that it is “entitled to have benefits that were paid for by someone else (remember 47 percent pay no taxes).
Class warfare and demonizing the most productive members of our country is not only despicable, but counterproductive, threatening the reason millions aspire to live here.