deficit question: do we have a revenue problem or a spending problem?

[tehabwa]

The BIGGER problems, in the short term, is our unemployment problem, and low GDP rate. Spending would HELP those quickly and a lot.

We do also have a huge revenue problem, as most of the wealth goes untaxed, or taxed at an absurdly low rate. Most of the people who have most of the money and the highest incomes pay either NO taxes, or very low taxes. That has cost trillions.

Unfortunately, no one is talking about a really sane taxation system. They're just arguing about a tiny increase on a few people's earned income (and not at all about a transaction tax, that would do MASSIVE good, in controlling the prices of everything, and prevent so much fuel speculation, for instance); or about taxing investment income at a reasonable rate.

We will be able to cut "Defense" spending as we wind down our wars; and there's some waste in other areas.

What few people seem to realize is that Dems have already cut lot of spending. But Republicans basically oppose ALL spending that saves lives or prevents suffering.