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- #81
The Republicans form a Praetorian Guard around the rich; however, both parties depend on the richest 1% of Americans to fund their election campaigns.Can you say Norway?
How about Wealth Tax??
"Times are tough. Someone has to pay. Why not start with those who can most afford it?...
"In Norway, for example, you pay one percent of your net worth in addition to income tax.
"What if we imposed a Norwegian-style wealth tax on the top one percent of U.S. households?
"Were not talking upper middle class here: the poorest among them is worth a mere $8.3 million.
"This top one percent owns 35 percent of all wealth in the United States.
'Such a wealth tax would raise $191.1 billion each year (one percent of $19.1 trillion), a significant attack on the deficit,' Leon Friedman writes in The Nation. 'If we extended the tax to the top 5 percent, we could raise $338.5 billion a year (one percent of 62 percent of $54.6 trillion).'
Tell the rich to pay up or pack up.
Sounds like a good idea, but the Republicans won't allow you to touch the rich. I mean, the whined and cried until the Wealthy were give a tax cut.
I don't think any solution like a wealth tax would have the slightest chance of success without FLUSHING hundreds of incumbents of both parties from the US Congress.
It's possible the democratic fires sweeping the Middle East will find a counterpart here. Young people are among the leaders of the revolution in Egypt, Tunisia and Iran. If the 40% to 50% of young US voters who don't usually see anything worth voting for should decide to vote AGAINST all Republicans AND Democrats in November of 2012, the world will Change.