Ah, the word, Sequestration, has proceeded from being unknown to being the word of the hour. Republicans insist since they agreed to raise taxes– to the tax rates under Ronald Reagan- then there is no further need to raise another penny on our oppressed wealthy folk. John Boehner and his merry crew of ideologues are prepared to allow the economy to collapse before they will vote for a single dollar more of taxes for the wealthy. After all, the top 5% only control 40% of our wealth, and they already have sacrificed by giving up 1% of their hard earned money. President Obama urges closing tax loopholes–something that Mitt Romney pledged to do if elected president–but John and the boys of February only agree such action if needed if a Republican is president.
Reality is that members of the Republican party are prepared to die at their desks before one further dime is demanded of those who are wealthy.