It's one small step of many that will help shrink the deficit. If you want to bitch at anyone then blame the guy who gave America huge tax cuts while massively increasing spending by waging two wars with little concern for how to pay for them. We were in much better financial shape before that. If Obama can balance short term spending with long term cuts while still investing heavily in research and development we should be okay.
But I agree with you that we need tax reform, especially for corporations so they'll stop hoarding their cash overseas.
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