there would not be the need for raising taxes, if a republican president did not lately reduce the taxes for rich people only.
Where have you been to shout "Stop, we can't invade in Iraq. We need the money to compensate your last tax decreases for rich people!"? :dry:
How do you think do the USA work? Let a republican pray to god and suddenly, money arrives? Face the facts.
http://en.wikipedia.org/wiki/Laffer_Curve
There have reportedly been three notable tax cuts in recent history: by Kennedy (1960's), Reagan (1980's) and Bush (2000's). In all three cases, government revenues increased. The link, above, shows the reason.
Thus, inadequate U.S. government money, cannot be blamed on tax cuts by the Bush administration, and neither can it be supposed that raising taxes would be necessary (or even useful) for providing the U.S. government with more money.
Furthermore, notwithstanding the tiresome assertion that the Bush administration provided "tax cuts for the rich," instead the tax cuts were extended across all income levels and, in fact, slightly weighted to lower incomes, so that "the rich" paid a greater fraction of Federal Income Taxes, after the tax cuts, than before. Furthermore, the number of persons who, after the tax cuts, would pay no income taxes at all (now about 40% of the income-earning population), increased. Currently, the cost of the U.S. government is almost entirely (97%) borne by persons in the upper half of income level.
However, because the tax cuts were "across the board," therefore persons who had paid more taxes, got back more money in the tax rebate (if there is an x% rebate, then x% of more money in taxes paid, means more money returned).
Furthermore, the "earned income tax credit" was extended, as part of the "Bush tax-cut" legislation, to higher incomes - which basically means that more people, who don't even pay any income taxes, will henceforth nevertheless get a "rebate" from the U.S. government.
Additionally, the U.S. Income Tax system is a "progressive" system - meaning that persons with higher income pay a
larger percentage of that income. Seemingly, those who complain about the "unfairness" of "Bush's tax cuts for the rich" - wherein, higher-income persons received even
less than an equal percentage rebate, compared to lower-income persons (note that I mentioned: "slightly weighted to lower incomes") - nevertheless find nothing ironic in that complaint. They allege that it is unfair that "the tax cuts disproportionally benefitted the wealthy," while finding no unfairness in the fact that the
tax system disproportionally
acts against the wealthy.
In the Bush administration's tax cuts, lower-income persons received a larger share of their taxes, returned, than higher-income persons did. That they received a smaller absolute quantity of money, as a rebate, is the result of their having
paid a smaller absolute quantity of money, in the first place.