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Look, I oppose the tax hikes, but can we get some perspective here? Allowing the Bush tax hikes to expire will return us to those awful tax levels of the 90's. Even if Obama is serious above reducing deductions and stuff (yeah, Barack, wait until the non-profits hear about that), the tax environment will still be far better than it was at any time between about 1930 and 1980.<br> <br> Right now the government is taking 16% of our GDP in taxes and spending 23%. That's not sustainable. Obama's tax hikes will raise taxes to 19% of our GDP. That's close to the historical average over the last 50 years, although more heavily "progressive" than before.<br> <br> But I'm sorry. You were freaking out and screaming "socalism!" Don't mind me. Let's not focus the ridiculously optimistic assumptions in Obama's budget or the complete lack of spending restraint. Let's just shout socialism until the Democrats have 4/5 majorities in both houses.
By MikeS

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