Bernie Sanders comments on this, in the video below, in an address to the Senate regarding an extension of the Bush Tax cuts. While figures and statistics could be derived to support either side of this argument, let's analyze some information that's fairly commonplace knowledge.
It is easier to gain wealth, when wealth is already present in your life. Conversly, if you come from a less fortunate socio-economic background, it is rather difficult to aquire wealth. While there are anomalies in the system, it is difficult to aquire wealth without dragging yourself up out of the grave dug through student loans and credit cards. So then, why would we ever attempt to lessen the budget deficit by cutting social programs, such as education, a fundimental building block of society that benefits all classes, as opposed to reinstituting previously held taxes on the wealthest few percent?
By Brett Mullins at http://www.seismologik.com