Yesterday's Leftovers For 6/23/10: Some Possibly Good News
This is refreshing to see, because it is one of the only ways we seriously can get our of the deficit instead of the insane constant conservative attacks on social security, Medicare, and even education now : House Majority Leader Steny Hoyer (D-Md.) hinted in a speech Tuesday that House Democrats do not consider family incomes of $250,000 an inviolable threshold, despite Obama’s pledge. He said at the event sponsored by the Third Way think tank that “at a minimum,”the House would not extend the tax cuts to taxpayers above $250,000. Hoyer argued that higher taxes would be necessary to address the $1.5 trillion federal deficit and downplayed threats that such action would hamstring the economic recovery. He noted that tax increases in the early 1990s raised government revenues from 17 percent to 21 percent of gross domestic product and ushered in a decade of prosperity. “Raising revenue is part of the deficit solution, too,” he said, adding that Congress must also cut spending....