Deficit fraud ConservaDem Senator Kent Conrad said in an interview with reporters outside the Senate chambers this week that he is supporting extending the Bush tax cuts for the wealthy without paying for them. President Barack Obama and most Democrats allies support extending the lower rates for individuals earning less than $200,000 or couples making less than $250,000, but raising taxes on millionaires and billionaires modestly back to the level where they were during the Clinton administration, which produced a budget surplus. Although Republicans and conservadems keep promoting the magical thinking idea that when you cut taxes on rich people it magically causes more money to come into federal coffers, experience proves otherwise. Reagan cut taxes on millionaires and billionaires from over seventy percent to around thirty percent and more than tripled the federal debt from under a trillion - where it had been in real dollars for about two hundred years - to nearly three trillion dollars. Clinton raised taxes on the rich, without a single republican vote, and both balanced the budget and produced the first surplus in years. Bush came into office with Clinton's surplus, immediately cut taxes back to and drove a five trillion dollar deficit to over ten trillion. Never ever in history has this magical thinking enbraced by Kent Conrad conservaDems and republicans been shown to actually work but they continue to promote it like children waiting for the Easter bunny.