Raise taxes now!

Taxes haven't been this low since 1958.
Reagan raised taxes in a recession, that's how he got out of it.
The middle class have seen wages lowered for ten years, even more this month. The rich are wealthier than they have ever been.
Most commodity traders don't pay taxes because of a loop hole among thousands of loopholes for the wealthy. If Bush's tax policy created jobs, where are they?
Raise taxes now!

Raise taxes now -- the elders of the economy say so

NEW YORK (CNNMoney.com) -- First it was Greenspan. Now one by one, other elders of the economy are speaking out against deficits, and they're making the surprising argument for higher taxes.

Former Federal Reserve chairman Alan Greenspan was first and has taken the most extreme position, arguing that all of the Bush tax cuts of 2001 and 2003 should be allowed to expire.

Greenspan, no fan of big government and an initial backer of the Bush tax cuts, allows that higher taxes now could lead to slower economic growth, but has said that chipping away at the deficit is more important.

Joining him -- at varying degrees -- are David Stockman, former budget director in the Reagan White House, and former Treasury Secretaries Robert Rubin and Paul O'Neill.

The White House and most Democrats have argued for keeping the tax cuts in place for most households, but letting them expire for those earning more than $250,000, about 2% of the country.

Extending the tax cuts for everyone would cost the government $3.7 trillion over 10 years. Taxing the high-earners would get back about $700 billion of that.

David Stockman joins Greenspan at the far end, saying the nation can't afford to extend the tax cuts now. "You have to pay your bills. I say we can't afford the Bush tax cuts," Stockman told NPR this weekend.

http://money.cnn.com/2010/08/09/news/economy/elders_economy/index.htm

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