Submitted by John Servoss, Aug 2, 2007 22:48

The budget should be balanced by a combination of raising taxes and cutting spending. It should be done by taxing the rich more. There are two reasons for the rich paying more taxes; first they have the money necessary to balance the budget; second,the terrorist want to chop off the heads of the rich. If there would be a meeting, between all the rich Americans and the congress of the United States the meeting would become the target of terrorist around the world. Raising the income tax to 40% is realistic and combined with a budget freeze at 1% growth a year the budget should balance. The war in Iraq could be ended with the Turks replacing U.S. troops which would save 140 billion a year. If the U.S. does not balance its budget in the near future, interest rates will rise quickly or inflation will prevail. The other alternative is that the Chinese will buy all of our top scientist and our best technological companies which would leave the U.S. as just another developing country.

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