Let us go back to the tried and proven. The Bush sponsored tax cuts did not do what they were supposed to do. We forgot to take Teddys advice, as quoted below.
The tax cuts did not increase our national economic vitality one wit. They should be allowed to expire post-haste. Especially since we need the money to offset more energy conservation tax incentives (such encouragement creates public good). US policy should lead the world in energy conservation, not follow! 
About taxes, Teddy Roosevelt(who is among my most admired people), said:
No man should receive a dollar unless that dollar has been fairly earned. Every dollar received should represent a dollar’s worth of service rendered–not gambling in stocks, but service rendered.
The really big fortune, the swollen fortune, by the mere fact of its size, acquires qualities which differentiate it in kind as well as in degree from what is possessed by men of relatively small means.
Therefore, I believe in a graduated income tax on big fortunes, and in another tax which is far more easily collected and far more effective–a graduated inheritance tax on big fortunes, properly safeguarded against evasion, and increasing rapidly in amount with the size of the estate.
Words to remember in November.
Some of my friends want me to clarify what I mean above. If Teddy had it right 105 years ago, and we had a balanced budget in the 1990s (Republican controlled Congress/Democratic President combination), we should have stuck with it. Democracy like ours really suck when voters get confused and switch the formula, like we did in 2000. Once upon a time, I had a theory about an optimal combination, a Dem president and a Repub congress, and I will be damned if that didn’t work under President Clinton. Looks like we might even get back to that state, but it will take 6 more years of President Obama working with a Republican Congress just to get back to where we were when Bush got elected in 2000.













