Its all about the money...

[Drew Richards]

While the confused teabaggers scream for less taxes and the end to social service programs we can see that the real problem is all about the money and how it is being taxed...

Some numbers — from an Institute for Policy Studies report released this past spring — can help us better visualize just how monumental this political failure has been. If corporations and households taking in $1 million or more in income each year were now paying taxes at the same annual rates as they did back in 1961, the IPS researchers found, the federal treasury would be collecting an additional $716 billion a year. In other words, if the federal government started taxing the wealthy and their corporations at the same rates in effect a half-century ago, the federal debt to investors would almost totally vanish over the next decade.

As ThinkProgress has previously reported, the richest Americans are paying their lowest taxes in a generation. Additionally, Center for American Progress experts Michael Linden, Seth Hanlon, and Jordan Eizenga have shown that the United States is actually very low-tax compared to other developed countries.


more: http://thinkprogress.org/economy/2011/07/25/277857/corporations-rich-taxes-debt-disappear/