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“…Right there, in the fine print of (Standard & Poor’s U.S. credit rating) downgrade release, they said that a big factor was that, quote, ‘the majority of Republicans in Congress continue to resist any measure that would raise revenues,’ unquote. And they give an example of how to fix that: quote, ‘initiatives, such as the lapsing of the 2001 and 2003 tax cuts for high earners,’ unquote. In other words, S&P would like to see higher taxes on rich people.
Folks, whatever you think of Standard & Poor’s, when a Wall Street firm run by rich people recommend higher taxes on rich people, they might just know what they’re talking about.
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