Name It "The Bush Debt Tax"

[kpete]

Name It "The Bush Debt Tax"

-- by Dave Johnson

Christian_Dem_NY, a commenter over at Open Left has an idea,

... Enact a tax that applies ONLY to those that make $250,000 or more per year, and that only raises their top rate to 50% (which was the LOWEST rate under Reagan). Name that tax the "Bush Iraq Debt" tax, and use every penny from that tax to pay down the portion of the national debt that was created by Bush's war (with a built-in "self destruct" feature that makes the tax expire once Bush's war has been fully paid for). The teabaggers and Faux Noise and the rest of the right-wing noise machine will act as though Obama is the second coming of Stalin... but when grassroots Republicans get pissed off about the tax increase, they will look at that name "Bush Iraq Debt" tax and ask themselves: "Whom should I really blame for this tax? The man who spent the money to attack the wrong nation (Bush) or the man who just collected the money to get us out of debt Obama?"

http://www.seeingtheforest.com/archives/2009/11/name_it_the_bus.htm

[Warpy]

1. I've got a better idea

Start the tax on people who make $250K, but realize that in some parts of the country, that's barely middle class. Increase the percentages until they're 90% on incomes over a million and confiscatory, say 99.5%, on income over 5 million. Include stock options, capital gains, and everything else in that.

Call it the REPUBLICAN DEBT TAX. Tell the plutocrats to expect a drop to 70% on the upper rate when they've paid back all their ill gotten gains.

That will give us a disincentive to the naked greed of the last 30 years while reminding people of exactly where the overspending came from.

Oh, and it wouldn't hurt to dismantle the REPUBLICAN EMPIRE at the same time.

[SammyWinstonJack]

2. +1 nt

[Dont_Bogart_the_Pretzel]

3. Won't work because they will just turn into Dino's,

Like Ross.

[barbtries]

6. i like your idea

quite a bit.

[baldguy]

7. Totally eliminate the federal income tax for anyone making $50K or less.

$100k for couples filing jointly.

[StarfarerBill]

4. Better, just call it the Bush Wars Tax;

after all, he did start two of them...or three, if you count his war against the American people.

[JDPriestly]

5. Should be easy to identify the portion of the debt due to Bush's War

since the war funds were appropriated off-budget in a separate bill if I understand the process correctly.

[Igel]

8. Not entirely.

Making it more difficult was that a lot of on-budget equipment procurement and research went for Iraq-related goals.

Still, a wrong-headed idea. Sounds good on paper, but if we went there we'd be really upset with the muck around our waists.