In exchange for much-needed entitlement spending reform, wealthy Americans may be asked to pay more to help bring down our federal budget deficit.

FORBES: The Hidden Taxation of Wealthy Americans

If Republicans choose to use these strategic gains to fight for spending cuts and future entitlement reforms in exchange for higher taxes, they will have fallen into the austerity trap that perpetuates the financial crisis in Europe and will have squandered their new-found position of strength.

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