Okay. Just for the hell of it, let’s go after the debt and the deficit the Republican way. No new taxes. All through cutbacks. And I’ll confine my quibbles to a few parenthetical asides.
To begin, then: We’re broke! We can’t afford any more taxes! (Well, America’s 400 wealthiest taxpayers certainly can. In 1955, according to the Campaign for America’s Future, the country’s 400 wealthiest taxpayers had an average income of $13.3 million (in 2008 dollars) and paid 51.2 percent of that in federal income taxes. In 2008, according to IRS calculations, they had an average income of $270.5 million and paid 18 percent of that in federal income taxes. And in 1955, by the way, we could afford to pave roads.)