WCBS Newsradio 880 Afternoon Anchorman Steve Scott
America's budget deficit continues to soar. Yet, during this election season, many candidates have called for widespread tax cuts. Can you cut taxes AND lower the deficit? Who should get a tax cut, how much, and how would you pay for it? Should anyone get a tax INCREASE to help ease the deficit?
Time remaining for our candidates to respond
“ Our tax policy going forward should be simple - protect and grow tax cuts for the middle class, and ask that the very, very wealthy pay a little more to help pay down the deficit. And our spending policy should follow another simple rule - invest in those areas that create jobs, like education, infrastructure, and science, and make reasonable cuts in other accounts. That means letting some of the Bush tax cuts expire for high income earners, while also targeting wasteful spending programs at federal agencies. Too many in Washington aren't willing to bridge the partisan divide to craft a grand bargain that will do both, and do so fairly. I have spent my entire career reaching across the aisle to find common ground. As the Chairman of the Congressional Center Aisle Caucus, a bipartisan committee of about 40 members who are working to restore civility in Congress, I've led by example when it comes to bringing people together on tough issues like taxing and spending. It's that kind of ability to work across the aisle that will get us a compromise on deficit reduction that will propel America's economy forward. ”
“ Solving America’s budget deficit will take a combination of tax increases and budget cuts. We need a tax code that works for the middle class and not for corporate special interests. We can make the tax code work for the middle class by 1.) ending corporate welfare by eliminating all special interest tax breaks and the hedge fund loophole that allows speculators to pay a lower tax rate than the middle class, 2.) end the Bush tax cuts for the Wealthy, and 3.) fix the alternative minimum tax which makes many middle class families pay a higher tax rate than the wealthiest Americans.