Hat tip BWD at The Only Adult in the Room for graphics.
Every single poll you can find shows that a majority of Americans favor raising taxes on the wealthy. Even a majority of self-identified Republicans and self-identified Teabaggers favor raising taxes on the wealthy. Polls alone obviously aren’t enough to sway the minds of the Republicans though, otherwise we would already have a deal in place.
From commenter Creolechild: “If this is the case, then why aren’t we getting behind this to see that it’s done? Just a thought…
With the big-wigs of Wall Street chiming in to say that we must raise taxes and preserve the social safety net, I am left asking the question — who exactly are the Republicans protecting? Is this simply a battle to preserve an ideology? The voters have spoken and now Wall Street has spoken. They aren’t being subtle about the risks of Republican brinkmanship either.
“I think the opportunity for the markets to stage a riot is going to be elevated because this is not going to get done before the very last second and it’s not going to be done in a way that’s very satisfying to markets,” said Mitch Stapley, chief fixed income officer, Fifth Third Asset Management in Grand Rapids, Michigan. Fifth Third has $17 billion in assets under management.
He’s right. It’s highly unlikely that a deal will be reached until the very last second, and the only way to restore a truly positive long-term economic outlook to the nation is by raising taxes.
The Center on Budget and Policy Priorities brings us this chart projecting the national deficit from now until the year 2019 and, as you can see, the single largest arbiter of debt is the Bush tax cuts.
So what say you 3 Chics friends, visitors, and lurkers? Raise taxes or continue lining the pockets of the rich. **LOOKING @ OIL COMPANIES, CONGRESSIONAL LOBBYIST**