Oh yeah each and every American owes the Chinese $6,000 with interest.
Damn right, I find it hilarious as well.
Look, I'm not saying we should go back to a Carter-esque top tax rate of 70%, but Bush went a little too far with tax cuts especially during a War. Even John McCain agreed at first. Now is probably not the time for tax increases, but once the economy recovers, there needs to be some incremental increases and they need to be focused more on whorded wealth, not work or payroll taxes. I would even look to expand the IRC 199 Domestic Production Activites Deducation among others to encourage domestic investment. I have a few ideas on cap gains such as inflation-adjusted cost basis to replace long and short term as well taxed as ordinary income. I even think the deduction for personal interest should be brought back, no cap on student loan interest deduction, etc. I could go on with taxes. basically- I want most of Reaganomics undone with some dressing here and there.
