"Disliking taxes, of course, is understandable. No one likes taxes, just like no one likes visiting the dentist or going to the DMV. But most of us accept them because the alternatives are worse. The GOP’s argument, however, is that a federal default and a second financial crisis are preferable to even modest tax hikes."
"Which is why I spent much of yesterday asking right-leaning economists to walk me through two quotes that seemed to summarize the Republican Party’s argument against taxes."
Lets hope the GOP listens to the business community. Business Groups to Congress: ‘Raising Debt Ceiling Is Critical’. "Sixty-two business groups ... urged congressional leaders on Wednesday to raise the federal debt ceiling amid fears that political brinkmanship could lead to another financial crisis."
Klein followed up with this, The income made by, and the taxes paid by, the rich, in one graph. "Over the past 30 years, the very rich have seen their real taxes fall sharply even as they’ve seen their incomes rise rapidly."
"This graph is also worth keeping in mind when you hear that the rich are paying a greater proportion of federal income taxes than they have in previous years. That’s true, but it’s also true that the reason they’re paying more in taxes is that they’re making much more money."
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