A recent report from the Congressional Budget Office shows that the gap between the richest one percent of earners in the US and the middle class has more than tripled since 1979.
But that didn't stop Fox Business host Cheryl Casone from using the report as the basis of her proposed solution to the US's mushrooming budget deficit: Increase taxes on the poor.
In a discussion on the CBO report (PDF), which showed that 40 percent of income tax filers ended up paying no federal income tax in 2007, Casone argued that fixing this "imbalance" would solve the federal debt problem.
"The fact that most [sic] Americans are not paying any income tax at the end of the day kind of shows the imbalance," Casone said on Cashin' In Saturday."What if everyone pays just a little bit — we're out of debt in this country."
Full Story: Fox Business' solution to financial crisis: Tax the poor more | Raw Story.
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