I'm all for a more progressive tax code. But consider: The Tax Policy Center examined what it would take to avoid raising taxes on families earning less than $250,000 a year while reducing the deficit to 3 percent of the economy by decade's end. The top two rates would have to rise to 72.4 and 76.8 percent, more than double the current level. You don't have to be anti-tax zealot Grover Norquist to think this would be insane.
To which I respond:
On a related note, I hope the Dems get off their asses and pass those tax cuts for the 97% of us that make less that $250K a year, and then we can have an election on whether to increase the deficit to pad the wealthy's savings accounts. The conventional wisdom (expressed here) that holding tax cuts for the great majority hostage in order to secure them for the rich is the "moderate" course baffles me.