Quote Originally Posted by pavyracer View Post
You can do both effectively. All you have to do is tax everyone who makes more than $1,000,000 an extra 5% in taxes and every corporation who makes more than $100 million in profit every year an extra 10%.

So you reduce military spending by 25%, you reduce welfare by 25%, you reduce government employees by 25% plus the minimal taxes the wealthy need to pay and you fix the problem.

Buffett calls for more taxes on 'mega rich'

Billionaire investor Warren Buffett is calling on the so-called mega-rich to pay more in taxes.
Buffett says in a New York Times opinion piece that he would immediately raise rates on households with taxable income of more than $1 million, and he would add an additional increase for those making $10 million or more.
He says he and his mega-rich friends have been coddled long enough by Congress, and says it is time for the government to get serious about shared sacrifice.
He says he has yet to see anyone shy away from investments due to potential capital gains taxes, even when capital gains rates were much higher in the mid-1970s.

Warren Buffett read my post at Players Talk.