For over 30 years we have been cutting taxes on the rich, with only a few bumps. Yet I don't remember in all that time any increases in entitlements (meaning lower retirement age, better health care coverage, lower medicare costs). Instead, so -called 'entitlements always get the axe too. Even SS has had its enrollment age raised, and has perpetually been increased at a lower rate than the overall inflation rate, and our payroll tax increases. So WHY IN THE HELL DO PEOPLE EQUATE TAX INCREASES ON THE RICH WITH "ENTITLEMENT" CUTS???????
I'll support going back to 1968 income tax rates (last time we got a real increase in 'entitlements' if they want to equate the two.
1. Because the tax cuts have not created a surplus. They been paid for by increasing the debt.
The overall tax rates have been cut to a level that is unsustainable. The theory that if you keep cutting taxes that the economy rapidly expands and creates more revenue has been proven to be unfounded.