We've been predicting this for a while... while the officials have been predicting doom and gloom.

Personally, I just can't keep up with all of these changing numbers... I wonder if you can do a graphic showing the difference between the Original Budget Deficit prediction, the REVISED predictions, and the actual deficit as it occurred?

If you can, would you? Please? ( I know, we are never satisfied, are we? )

YA, Will... Good idea, Mr. Morelock!

We need to increase taxes to fix the deficit and to correct the problems between haves and have-nots. Clearly we need to raise taxes on the rich.

The reality is that this demonstrates that if the goal of taxes is to cover government costs, we have a system that keeps getting better as we lower the marginal tax rates.

But that is not the goal. The goal is wealth redistribution and if we even think about reducing the rates of all taxpayers (and that includes the rich), we are failing at that goal. The goal is to ensure that the megarich like the Kennedy's, they Kerry's, Soros, and so on, stay megarich, but that we keep others from enjoying the fruits of their "income". We already tax dividends at a different rate than income. We have all kinds of loopholes that the megarich can use. The Democratic Agenda destroys the upper middle class (and for terms of comparison, that is Americans making above $100k combined household income).

We need two things--lower taxes and less spending. I am inclined to say start with the former and the increased revenues will make the latter less critical. We need to reform entitlements, but the Dems don't care about that either. Their understanding of economics and reality is sorely lacking.