The President has said "it will not happen." and Nancy Pelosi chimed in with: "This is really silly. It's not serious." I won't go into my confidnece or lack thereof in the familiarity either of these two have with the truth as politics is frowned on here.the only way to deal with the deficit is to reduce spending and raise additional revenue.Increasing the tax base through increased employment or a change from income tax to a form of consumption such as the FairTax or some form of national sales tax is the way to do this NOT increase the number of taxes or rates of taxation. The best would be both.I undersatnd there are problems with implementation of a tax change and the near certainty that congress would never agree to give up their power of income taxation.
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