Are Americans Ready To Pay Higher Taxes?

On Friday President Obama claimed they are as headlined in the Democratic Underground, a huge liberal Democratic Party site: http://www.democraticunderground.com/

"President Obama on Friday kept up the pressure on Republicans to agree to revenue increases in a deal to raise the debt ceiling, claiming 80 percent of the public supports Democrats' demand for tax increases. 'The American people are sold,' he said. 'The problem is members of Congress are dug in ideologically.' "

Rather than support tax hikes on themselves, the American people likely think the tax hikes will apply only to America's rich because the debate has centered around taxing America's highest 2% income earners. The vast number of Americans may not know that regardless of how this debate turns out, as historically been the case, they will be paying most of the taxes because unlike the rich, there are so many of these people and because most of them are wage earners, without the ability to readily redefine what constitutes taxable income,* as the rich are often able to do. Nor do they have the many tax shelters the wealthy have. Those conducting the debate know this and their performances are carefully crafted to appeal to the emotions of their supporters. In the end they will raise the debt ceiling and claim victory to their constituencies having fought their hearts out to do what was right.

Dick

*Please see "The Take Home Pay Brackets" http://www.bargaineering.com/articles/the-take-home-pay-brackets.html