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Robert Reich: Why We Must Raise Taxes On The Rich

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Hissyspit Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-04-11 04:20 PM
Original message
Robert Reich: Why We Must Raise Taxes On The Rich
Edited on Mon Apr-04-11 04:22 PM by Hissyspit
http://robertreich.org/post/4344201496

Why We Must Raise Taxes on the Rich

MONDAY, APRIL 4, 2011
Its tax time. Its also a time when right-wing Republicans are setting the agenda for massive spending cuts that will hurt most Americans.

Heres the truth: The only way America can reduce the long-term budget deficit, maintain vital services, protect Social Security and Medicare, invest more in education and infrastructure, and not raise taxes on the working middle class is by raising taxes on the super rich.

- snip -

Yet even as their share of the nations total income has withered, the tax burden on the middle has grown. Todays working and middle-class taxpayers are shelling out a bigger chunk of income in payroll taxes, sales taxes, and property taxes than thirty years ago.

Its just the opposite for super rich.

- snip -

If the rich were taxed at the same rates they were half a century ago, theyd be paying in over $350 billion more this year alone, which translates into trillions over the next decade. Thats enough to accomplish everything the nation needs while also reducing future deficits.

If we also cut what we dont need (corporate welfare and bloated defense), taxes could be reduced for everyone earning under $80,000, too. And with a single payer health-care system Medicare for all instead of a gaggle of for-profit providers, the nation could save billions more.

MORE

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liberal N proud Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-04-11 04:21 PM
Response to Original message
1. La, la, la, la, la - their not listening

:sarcasm:

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ThomCat Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-04-11 04:31 PM
Response to Reply #1
7. They're not listening.
No. They're not.
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RadiationTherapy Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-04-11 04:24 PM
Response to Original message
2. It's so painful and embarrassing. We have to get this straightened out immediately.
We have to go back to being liberals and conservatives and democrats and republicans. It's awful; we can't even talk to each other. The cumulative financial stress of the bottom 90 percent and the cumulative advantages of the top 10% are ripping us all apart. I hate it.
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titaniumsalute Donating Member (558 posts) Send PM | Profile | Ignore Mon Apr-04-11 04:29 PM
Response to Reply #2
5. It's not the bottom 90%
It's the bottom 98% versus the 2%.

It is such few people versus such HUGE amounts of others. What I find weird is how do we not band together and take this on? I guess the right-wing realized years ago they needed to own a certain number of uneducated to herd them out to vote. They got to these uneducated through abortion, gay issues, religious "causes", and other bullshit "family values" kind of garbage.

Maybe this union busting stuff is the primer. So far it is outraged huge amounts of people. Maybe it will continue and make a big difference in the next election.

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TheKentuckian Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-04-11 04:36 PM
Response to Reply #5
8. I'm rolling over on the entire top 20% and it isn't punitive.
That is who has fat to cut. In fact, I could favor at least rolling back to Clinton era rates on the top 60% in order to give the bottom 40% some desperately needed relief.

The 250k line is just a way to distort the issue for political salesmanship rather than doing what it takes to have some semblance of a healthy and broadly functional economy.
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closeupready Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-04-11 04:26 PM
Response to Original message
3. Won't happen.
Think of something else, Mr. Reich.
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titaniumsalute Donating Member (558 posts) Send PM | Profile | Ignore Mon Apr-04-11 04:26 PM
Response to Original message
4. $350 billion
Over ten years that is $3.5 Trillion. I'd be willing to help Rep. Ryan find the other $500 billion over ten years to come up with his $4 Trillion in budget reduction.

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LooseWilly Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-04-11 04:30 PM
Response to Original message
6. Reich is obviously a communist.
And those in power have no interest in fixing anything.

And the masses are so hopelessly confused that those in power don't even have to resort to fixing elections in order to stay in power...

A spot of wisdom like spitting into the wind...
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ladjf Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-04-11 05:23 PM
Response to Original message
9. Hello, will someone please pay attention to Dr. Reich. He's telling
us what needs to happen in order to come out of the financial funk we are in.
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Hissyspit Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Apr-05-11 03:37 PM
Response to Original message
10. Kick nt
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neverforget Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Apr-05-11 03:38 PM
Response to Original message
11. makes way too much sense.
knr
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leftstreet Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Apr-05-11 04:20 PM
Response to Original message
12. K&R
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