1. Businesses really don't pay income tax. They just consider taxes as cost of doing business and add the cost to consumers.
2. Really rich people don't pay very much income tax. Income tax is based on earned income. Too may loop holes for the rich that don't earn their own money.
3. Excessive tax on producers will slow the economy leading to high unemployment. How many poor people hire employees?
4. Higher tax will not balance the budget. The government is a leach that will continue to spend more as long as there is more to spend.

>The entire report looks promising. Everyone is paying more taxes to balance the budget. The plan wipes out annual deficits by 2035. Done by raising taxes by nearly $1 trillion by 2020. Retirement goes from 62 to 64 and then to 69. Reading through it, higher rates all around, until I came upon this:
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>The top income tax rate for both individuals and corporations would be dramatically lowered, however, from 35 percent to 29 percent or less.
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>So we all pay more, but those in the top income bracket pay demonstrably less?????
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>http://www.washingtonpost.com/wp-dyn/content/article/2010/11/30/AR2010113005968.html?sid=ST2010120100209