The media is looking at the money that that 2% (and especially the .1%) has funneled to the Republican party, and making the conclusion. The idea that politicians do things for ideological reasons or factual reasons is almost completely laughable. It it were not for the Ron Pauls and Ralpha Naders, it would be.
If the majority vote to punish the top 1 or 2%, then they will suffer the consequences. The top 1% or 2% will take their money elsewhere. Or, maybe it is all just bluster from the top 1 or 2% and they will just eat the tax.
For the top 1%, there is also the same question. If you cut spending and raise taxes, the deficit will shrink, leading to a more stable financial situation (according to that top 1% themselves, our debt is a big issue). But taxes on the bottom 98% will directly be taken out of money that goes into buying your products, and taxeso nthe top 2% will cut into your profits. Spending cuts will also take money out of the economy in both ways.
So that decision has to be made. It is clear that the top 1%, with its money in Washington, wants to get money by taxing the poor and middle-class more, by robbing Social Security, and by cutting welfare.
Plan for eliminating the national debt in 10-20 years:
Specific cuts; defense spending: http://rolexian.wordpress.com/2011/01/03/more-detailed-look-a
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