OK, show of hands: Who's shocked?
Democrats say they want to raise as much as $1 trillion in new revenues through tax reform later this year to balance Republican demands to slash mandatory spending.
Democratic leaders have had little time to craft a new position for their party since passing a tax deal Tuesday that will raise $620 billion in revenue over the next ten years.
The emerging consensus, however, is that the next installment of deficit reduction should reach $2 trillion and about half of it should come from higher taxes.
This sets up tax reform as one of the biggest fights of the 113th Congress, which began on Thursday.
Our biggest fiscal problem is runaway spending. The proposal is to raise even more money to spend. How is this "reform," exactly?
The primary requisite for any new tax law is for it to exempt enough voters to win the next election.
Father, must I go to work?
No, my lucky son
We're living now of Easy Street
With dough from Washington.
We've left it up to Uncle Sam
So dont get exercised.
Nobody has to give a damn-
We've all be subsidized.
But if Sam treats us all so well
And feeds us milk and honey,
Please, daddy, tell me what the hell
He's going to use for money.
Don't worry, Bub, there's not a hitch
In this here noble plan-
He simply soaks the filthy rich
And helps the common man.
But, Father, wont there come a time
When they run out of cash ?
And we have left them not a dime
When things will go to smash?
My faith in you is shrinking, Son
You nosy little brat.
You do too much damn thinking, Son
To be a Democrat.
So, did your subscription to the WSJ run out, Rebecca? Now you're reduced to dubiously-sourced quotes from writers and a poem from 1949?