Originally Posted by SteveZ

When one raises the tax on the top 5% income earners, and "reduces" it on the remaining 95%, and increases the national debt by $1Trillion - one relies on the belief that the majority of us cannot do basic math.

Just how does the $1Trillion get paid - principal and/or interest - plus the rest of any part of the debt or the basic budget? Taxes! Will the 5% pay that, as well as the delta from what the 95% used to pay to what they are now levied to pay AND the $1Trillion (or some share thereof)?

Let's take off the rose-colored glasses. EVERYONE's taxes are going up, only for some the percentage will be a little higher. The tax rate may not get raised, but watch certain deductions evaporate or be severely trimmed, such as home office, employee-related expenses, travel expenses and depreciation on business related equipment.

When you rob Peter to pay Paul, Paul too gets his pocket picked as part of the cycle.