As usual, when you actually look at the figures, there are no spending reductions. What we have are reductions in planned increases.

This cannot continue. What cannot continue will eventually stop. When this sucker finally stops, you wanna be a long, long ways away...

Its shit like this that makes me wish I had a little nest egg to live off of for awhile and major monthly bills paid off. I'd love to stick itto these creeps. Stop working for a few years and starve the beast.

I wish I had known better years ago. My financial and college planning would have looked so much different.

What we have are reductions in planned increases.

No, what we have are pinky-swear promises to reduce planned increases. Future Congresses are free to ignore this and go ahead with the planned increases, or even increase them.

"Future Congresses are free to ignore this and go ahead with the planned increases, or even increase them."

Indeed, in every program budget discussion I've ever been involved in, they make a point of saying that the current Congress cannot obligate future Congresses.

Feebie: "Stop working for a few years and starve the beast."

What this country needs is a healthy, thriving black market.

I know I mentioned this before, so forgive me if it is a repeat.

What if 500K Americans set their W-2 to 9 dependents and saved the tax difference. Then on a quarterly basis sent in the minimum required amount to the IRS.

Maybe a "starve a cold, starve a fever" approach would put the government on notice that they have to get to reality.

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Now the next question is what is a fair share of your income should you pay?

1. 50%+ Half of your year (180 days) is spent working for the government
2. 40% 146 days of the year is spent working for the government
3. 30% 110 days of the year is spent working for the government
4. 25% 92 days of the year is spent working for the government
5. 20% 73 days of the year is spent working for the government

So now the new top rate is 40%. John Doe, as a sole owner of a computer consultant firm with a bunch of employees. He makes a profit of $3,000,000 ($3M) that is taxable at 40%. So of the $3,000,000 he is going to have to pay $1,200,000 (1.2M) in taxes.

Now, how many people could he hire for $1.2M? Try this $1,200,000/$80,000 salary is about 15 people. Even if you cut the tax rate to 20% he can still have an additional 6-7 employees that would be paying employment taxes as well.

"Soaking the rich" is a failed idea. Congress needs to understand this.