We are a commune of inquiring, skeptical, politically centrist, capitalist, anglophile, traditionalist New England Yankee humans, humanoids, and animals with many interests beyond and above politics. Each of us has had a high-school education (or GED), but all had ADD so didn't pay attention very well, especially the dogs. Each one of us does "try my best to be just like I am," and none of us enjoys working for others, including for Maggie, from whom we receive neither a nickel nor a dime. Freedom from nags, cranks, government, do-gooders, control-freaks and idiots is all that we ask for.
...this year the U.S. government declined to lay out any plan to balance its budget ever again.
The feds assume a relationship between the economy and tax revenue that is divorced from reality. Six decades of history have established one far-reaching fact that needs to be built into fiscal calculations: Increases in federal tax rates, particularly if targeted at the higher brackets, produce no additional revenue. For politicians this is truly an inconvenient truth.
But it should, Barrister, it should. It works great on paper, so it must be that the theory is correct and reality is wrong.
We just have to change reality, that's all. Then we'll be fine.
Assistant Village Idiot
Actually, it doesn't even work on paper. Any study of history and any knowledge of economics demonstrates that raising tax rates above a poorly-defined but low rate will diminish economic activity and reduce collections.
Of course way too many members of Congress are lawyers from Harvard, Yale and similar schools. Their knowledge of history, economics or the Constitution seem to be feeble. The last politician I can think of who seemed to understand all three pretty well was -- G.W. Bush. An MBA, not a lawyer.