Watch out next year if the Democrats stay in power. The rate of deficit spending can't be maintained. The only answer is to cut spending or raise taxes.

>It will surprise me to see any new taxes passed in an election year. Not with the Democrats in the majority and on the run already.
>
>>The US next year will be at the 50% for the top level income tax. Because of the huge budget deficits, there has been a lot of talk about adding a VAT tax as well. Just adding to Jake's comment.
>>
>>I can hardly wait until the US follows suit. $13 trillion+ debt isn't going to pay itself.
>>
>>tick...tick...tick...
>>
>>
>>>Another Huh?
>>>
>>>>Plus a 20% VAT tax coming to the US. !!
>>>>
>>>>>>Plus a 20% VAT tax!!
>>>>>
>>>>>Huh ?
>>>>>
>>>>>>>Congratz England! Nothing incentivizes new business and investment like crippling taxation.
>>>>>>>
>>>>>>>People earning more than £150,000 a year will see a reduction in their take-home pay from today as the new 50p rate of income tax comes into force at the start of the financial year.
>>>>>>>
>>>>>>>In addition to the new tax bracket, announced by Alistair Darling in the Budget last April, high earners will also be subject to a new 42.5 per cent tax on dividends while those people making more than £100,000 a year will have their personal allowance reduced.
>>>>>>>
>>>>>>>http://business.timesonline.co.uk/tol/business/economics/article7088582.ece
>>>>>>>
>>>>>>>I can hardly wait until the US follows suit. $13 trillion+ debt isn't going to pay itself.
>>>>>>>
>>>>>>>tick...tick...tick...