Latest talking point BS from Faux: Taxes to Balance the Budget? Not Unless Rates Go Up 150 Percent

[salib]

As always, another BS Crazy TP to deal with:

http://www.foxnews.com/politics/2011/04/18/taxes-pay-debt-unless-rates-150-percent/

It's Tax Day, and the Washington chatter is all about whether America's top earners should be taxed more.

But, as the dim outlook from a key ratings agency showed Monday, Uncle Sam's deficit problem is deep. And if the federal government really wanted to use the tax code to close the deficit, it turns out everybody would feel the burn.

A new Tax Day study showed that if Washington wanted to balance the budget using tax increases alone, rates would have to more than double across the board -- including on the middle class -- to keep up with federal spending.

[Vincardog]

1. What would happen if we eliminated ALL deductions and the corporations had to pay their fair share?

[Ozymanithrax]

2. Bushed promised in his SOTU in 2001 that he would pay off...

FLASHBACK: In 2001 Address, Bush Said The National Debt Would Be Paid Off In Ten Years
Many of you have talked about the need to pay down our national debt. I listened, and I agree. We owe it to our children and our grandchildren to act now, and I hope you will join me to pay down $2 trillion in debt during the next 10 years. At the end of those 10 years, we will have paid down all the debt that is available to retire. That is more debt repaid more quickly than has ever been repaid by any nation at any time in history.

See it here (http://www.youtube.com/watch?v=h5F79kd2O7U&feature=player_embedded)

After ten years of trying the lower taxes thing and seeing the national debt rise to 14+ trillion dollars (700%), it is time we tried something else.

So raise the taxes on everyone 150% and let us try that for ten years. It is insane to talk about lowering taxes again. I can say that because doing the same thing over and over again and expecting different results is insanity.