Why we need to raise taxes on the super rich and lower taxes on middle class - Robert Reich

[JohnWxy]

http://robertreich.org/post/3317811319

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Would a Democratic president be insane to propose such a thing? Not at all. In fact, polls show an increasing portion of the electorate angry with an insider “establishment” – on Wall Street, in corporate suites, and in Washington – that’s been feathering its nest at the public’s expense. The Tea Party is but one manifestation of a widening perception that the game is rigged in favor of the rich and powerful.

More importantly, it will soon become evident to most Americans that the only way to reduce the budget deficit, preserve programs deemed essential by the middle class, and not raise taxes on the middle, is to tax the top.

In fact, a Democratic president should propose a major permanent tax reduction on the middle class and working class. I suspect most of the public would find this attractive. But here again, the only way to accomplish this without busting the bank is to raise taxes on the rich.

Republicans have done a masterful job over the last thirty years convincing the public that any tax increase on the top is equivalent to a tax increase on everyone — selling the snake oil of “trickle down economics” and the patent lie that most middle-class people will eventually become millionaires. A Democratic president would do well to rebut these falsehoods by proposing a truly progressive tax.

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Question, would Obama embrace this practical and much needed solution to not only work down the budget deficit but also increase our economy's rate of growth? Businesses are not going to make enough money to add/create additional jobs unless there is a large enough number of consumers with money enough to drive sales revenues to the point where adding workers is desirable to businesses and to enable them to make the profits needed to invest in new plant and equipment.

YOu can't have a growing economy unless an adequately large part of the population has enough money to create sufficient demand to lead to business expansion. We do not need more investment (companies are sitting on about

Mr. President you are not making the case for this like you should be.

[xchrom]

1. Recommend

[zalinda]

2. I swear, every politician who gets elected

some how loses their common sense.

zalinda

[yurbud]

3. they don't lose it, they sell it.