Well said and worth repeating.<quoted text>
Debt is NOT America's most pressing problem -- that would be unemployment. When those millions of people go back to work, they will generate demand for goods and services, AND pay state & Federal taxes, and pay into FICA. Returning those millions to work is our most urgent task -- doing so will go a long way toward reducing the deficit.
Contrary to popular belief, debt is NOT the huge problem some think. With interest rates at historic lows, the cost of the debt is also at historic lows. This does NOT mean -- HURRAY! LET'S BINGE on spending, it is just putting debt in a better perspective.
The same sharp accountants that ensured that very few paid the top rate when it was 90%, were also at work when the rate was 70%, and when it was 39.6%, as well as when it was 35%. The fact that very few actually pay the top rate does appear to stop the Grover Norquist crowd from outbreaks of hysteria over those top rates!
We need to shrink the Tea Party down to the size where we can drown it in a bathtub!
I would add that with higher rates, there is more incentive to invest, either in growing your own company, or in other companies such as start-ups. This helps grow the economy and increases employment dramatically. While no one would pay those rates, the incentive is then in place to grow the economy.