The deficit spending problem cannot be solved with cutting spending alone. Again, I implore you all to do the arithmetic.

The real question is, what kind of tax increase will be most acceptable and effective?

It'll obviously have to be a combination of new or increased taxes. My own personal choices--in order--would be...

• Increased tax rates for the lower half of the income spectrum. To think that the lower half of income earners in the U.S. pays only 3% of the tax revenues is ridiculous on its face.

• Adopt a VAT tax system so common throughout the world. Keep it simple with few or no exceptions. Then the problem of so many corporations gaming the tax code to avoid paying taxes will go away.

• Increase the tax rates on the top 5-7% of income tax filers in the U.S. The current rates, even after the increase resulting from the sunsetting of the Bush tax cuts of 1991, are near the lowest they've ever been in the history of the income tax system.

Those three would be good for a start as far as I'm concerned. But they should be enacted along with STIFF reductions in federal spending...and I mean along the lines of 15-20% cuts in spending including cuts in Social Security, Medicare, Medicaid and VA entitlement benefits.