Chris, I don't think higher taxes are the answer at all, simply because less than three out of every ten pick up the slack and pay the bills. A battle they are loosing by the way. Just imagine how tough it woukd be fir them if we lost our large companies, along with their $74 billion in taxes.

I firmly believe the answer lies with a fairer tax system, like a transaction/spending tax, as this type of tax taxes money transaction, not money earners.

I currently pay about $17,500 annually in tax, company tax excluded. So, a TT of 2% would see myself, and every other average wage earner have an additional $16 THOUSAND DOLLARS to spend each year. That, if my sums are correct is another $176 billion dollars injected into our economy each year

In my opinion it's far better to give people money to spend, then tax their spendings, than to take it from their earnings simply because our sliding tax scales give disincentives to people wanting to earn more.

A TT tax of just 2% would mean every big company would pay that, even if they do take their money off shore, and every wage earner would be less likely to seek out questionable tax write offs as 2% would hardly be worth chasing.

I do think we are getting closer to this.