Reply #14: Our current system is not capitalism, and therefore I agree.

[originalpckelly]

A neo-fascist economy is just as bad as any other form of planned economy in the long run, and the structural deficiencies in our economy, i.e. the fact that we import so much of our material goods while lacking the ability to export services, will eventually do us in.

To be sure, the Bush tax cuts have artificially depressed the rates of taxation to pump money into the economy, in turn causing the economy to fail to self-regulate. This was almost certainly done to make Bush look better.

However, that does not mean returning to the 90% rates of taxation in the highest brackets is viable. It's far more appropriate to return to the Clinton era tax rates, which were slightly higher. I remember seeing this wonderful graph presented to a Senate committee, it had the ideal rate of taxation, and the Clinton era rates were right in the taxation sweet spot.