According to The New York Times article Deficit Panel Seeks to Defer Details on Raising Taxes,

With a little over a week left to reach a deal, members of the Congressional deficit reduction panel are looking for an escape hatch that would let them strike an accord on revenue levels but delay until next year tough decisions about exactly how to raise taxes.

This is ridiculous.  If you read my previous post How the GOP Became the Party of the Rich, then you know there are trillions of dollars of foregone taxes that are not being collected.

The first thing the committee needs to do is to put a plan in place to collect those taxes.  There is no possibility of needing to cut any spending now or in the future to balance the budget.

Call Senator Kerry and let him know that he will be held personally responsible for any cave-in of the Super Committee. Phone: 202-224-2742.  No cuts until revenue is raised as much as possible.

I like the comment on the post Liberals Slam Super Committee Dems For Caving On Taxes — But Did They?

island liberal

“There could be a two-step process that would hopefully give us pro-growth tax reform,” Representative Jeb Hensarling of Texas, the top Republican on the panel.

“Pro-growth tax reform”. GOP code for more tax cuts for the uber-rich; tax hikes and benefit cuts for all the rest.

“Two-step process”. GOP code for “take from the poor and the middle class; give to the rich.”

Any deal that cuts benefits for the middle class and the poor before we have 5 solid years of actual, massively increased tax revenues from the rich and corporations is a sell-out.

Give us 5 straight years of good old GOP taxing at the rates in effect in the 1950s (89% personal income tax rate at the high end; effective corporate income tax at ~ 49% of profits). After 5-straight years of tax revenues from the wealthy and corporations at rates that were good enough for the GOP in the 1950s, then take a look at the state of the economy and see whether any cuts to Social Security and Medicare are needed. Not before.

Yes, I know it will never happen. But I suspect a large segment of the population would like to see the rich and corporations give more BEFORE the middle class has to give up any Social Security or Medicare benefits.