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We need to cut spending AND increase revenue
The Gazette Opinion Staff
Jul. 17, 2011 11:35 am
Republicans in Washington won't agree to an economic solution that includes any change to the tax system. They would rather see essential services, from job training to bridge inspection, eliminated than go back to something like the tax rates we had in the boom times of the '80s and '90s.
Even though government revenue is at a 60-year low as a percentage of the national wealth, the GOP refuses even to consider closing tax breaks, loopholes and subsidies that benefit only the most wealthy corporations and individuals.
Democrats compromise but it does no good. In 2010, a Republican campaign point was that the Democrat-supported Affordable Care Act cut Medicare. Now Democrats propose further reductions but Republicans complain they do not go far enough.
The fact is, we need to reduce spending and increase revenue.
Doug Allaire
Iowa City
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