Tue Nov 13, 2012, 08:46 PM
Bill USA (6,436 posts)
Republicans like to talk about Tax Reform - as a counter to
taking top tax rates back to Clinton era levels
.... Of course, we all know what the crafty GOPers mean when they say Tax "reform". This is their old shell game where they use the word 'reform' which to them means lowering the rates even more for the top income brackets and shoving even more of the tax burden onto the middle income people.
I hope the president reminds the GOP that inequitable distribution of wealth is the most deleterious factor affecting job creation and economic growth. And that a tax code that shifts too much of the tax burden onto the middle income people consigns us to continued Republican style poor job creation and poor economic growth (Bush on Jobs: Worst Track Record on record - WSJ). (Private Jobs Increase more with Democrats in White House - Bloomberg)
The President should hold firm to the position that any sort of tax Reform MUST recognize the importance of economic growth and that a tax code which shifts too much of the tax burden onto the middle income people will sacrifice growth for hedge fund managers and Wall Street Speculators (aka: Wall Street Banksters) enjoying even more bountiful cascades of wealth. The shocking wealth inequality presently seen in the U.S. (U.S. wealth inequity worst since the Great Depression, U.S. wealth inequity fourth worst in the OECD ) is a serious threat to economic growth and to our economic /strategic strength in the future.
We do need Tax reform but not the kind the GOP holds so dear to their dark hearts. We need to correct the dangerous wealth distribution disparity if we are to have a stable future, in terms of our society and our strategic strength. If the GOP are willing to jeopardize either of these, President Obama should let them know they are on the wrong side of history.
We can only hope President Obama is 'up to' the task.
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