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Unless the federal government, specifically congress, makes some very strict budgetary rules on spending growth, then I don't think we should send our dysfunctional congress another dime more than they currently receive as they will only waist it. However, if they returned to a more Clinton era fiscal policy (or better), and seriously started reforming entitlements, specifically Medicare, then most likely we will need to see additional revenue just to bring about surpluses in the next few years and reverse the growth in debt service as a percentage of outlays. Even in such an unlikely scenario, a return to Clinton era rates on the top bracket should be not take effect until unemployment dropped below 7%, and it should be coupled with an overall simplification of the tax code.
So, basically, since thats unlikely to occur, this is pretty much just an academic argument.
So, basically, since thats unlikely to occur, this is pretty much just an academic argument.