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IRAs are middle-class entitlements that cost the government money (full disclosure -- I have one) and the juiciest entitlements go to the wealthiest in the form of special income tax reductions for dividends and capital gains and, arguably the mother of all entitlements, the extension of the Bush tax cuts to the highest income levels.
Lest we think that balancing the budget is of insuperable difficulty, let us recall that President Bill Clinton left the country a budget surplus, with tax rates that generated sufficient income to the government, did not hurt the economy and did not much affect the lifestyles of our most wealthy taxpayers.
What wrecked the budget were the Bush tax cuts, enacted with feckless unconcern for the national debt, and two wars paid for on borrowed money. While the Republican leadership of the House of Representatives tries to shake about $60 billion out of the current budget, let us not forget that Senate Minority Leader Mitch McConnell successfully used the threat of a filibuster to impose the extension of the expiring Bush tax cuts to the upper income levels, setting the budget back by about $200 billion. One thinks of the biblical passage of straining at a gnat and swallowing a camel.
MILTON MANES
Shadyside

written by CraigWallace, February 21, 2011 - 07:43 AM Here we go again with the [Clinton] surplus myth. First, there wasn't a surplus
*t takes a lot of welfare moms to equal a single bank bailout....
Well, at least I _have_ examples.
But you still haven't addressed the issue of mandatory drug testing for welfare recipients being ruled illegal in court,
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