While taxation remains atthe lowest since the 1950s, the new tax code enabled through the fiscal cliff has resolved one of the long-standing issues in taxation, fairness.
For the first time since 1979, according to anarticle at the New York Times, our tax code is progressive, making those who utilize the system more, pay for the cost to support the system. Since the Carter tax reforms of 1980, our tax code has shifted, with more and more of the tax burden being carried by the poorest in the United States. This in turn created a retarding effect on income, further repressingwages.
The issue which remains is that the total government revenue still remains at record lows. This, however, can be addressed through several methods. The best solution is to increase revenue alongside the drawdown of the over inflated military budget. But where would this added revenue come from?