Democrats say Americans are not taxed enough, want to raise another $1Million in revenueSubmitted by emalvini on Mon, 01/07/2013 - 10:24
Democrats say Americans are not taxed enough, want to raise another $1Million in revenue
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.