Brace yourselves, the great intellect of the American public has spoken and says it wants it all:
Americans want Congress to bring down a federal budget deficit that many believe is “dangerously out of control,” only under two conditions: minimize the pain and make the rich pay.
The public wants Congress to keep its hands off entitlements such as Medicare, Medicaid and Social Security, a Bloomberg National Poll shows. They oppose cuts in most other major domestic programs and defense. They want to maintain subsidies for farmers and tax breaks like the mortgage-interest deduction. And they’re against an increase in the gasoline tax.
The story goes on in that vein, explaining all the areas Americans don't want the federal government cut, and who they think should pay for it, namely, the mythical rich.
I agree that the cap on earnings covered by Social Security taxes should be lifted. But if Social Security is means tested, it will become just another welfare program and a lot of people in the middle class will be angry with the results. If you're making $75,000 a year, the system is going to tell you why you should be paying for yourself.
Charles Krauthammer called the latest tax deal the swindle of the year, but that hasn't stopped Democrats from scuttling the whole thing. It's probably a good thing Obama's letting Bill Clinton be president again.
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