Shrink the Rich; Not Government

Discussion in 'Politics' started by georgephillip, Dec 13, 2010.

  1. georgephillip
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    georgephillip Gold Member Supporting Member

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    Thirty years ago the top 1% of US workers earned 9% of total annual income. Today's top 1% hoard nearly a quarter of the total.

    "Meanwhile the earnings of the typical worker have barely budged."

    Robert Reich has some explanations and solutions that elected Republicans AND Democrats aren't likely to try:

    "The vast middle class no longer has the purchasing power to keep the economy going. (The rich spend a much lower portion of their incomes.)

    "The crisis was averted before now only because middle-class families found ways to keep spending more than they took in – by women going into paid work, by working longer hours, and finally by using their homes as collateral to borrow.

    "But when the housing bubble burst, the game was up.

    "The solution is to reorganize the economy so the benefits of growth are more widely shared.

    "Exempt the first $20,000 of income from payroll taxes, and apply payroll taxes to incomes over $250,000.

    "Extend Medicare to all.

    "Extend the Earned Income Tax Credit all the way up through families earning $50,000.

    "Make higher education free to families that now can’t afford it.

    "Rehire teachers.
    "Repair and rebuild our infrastructure.

    "Create a new WPA to put the unemployed back to work.

    Where would we find the money for all this?

    "Pay for this by raising marginal income taxes on millionaires (under Eisenhower, the highest marginal rate was 91 percent, and the economy flourished).

    "A millionaire marginal tax of 70 percent would eliminate the nation’s future budget deficit.

    "In addition, impose a small tax on all financial transactions (even a tiny one — one half of one percent — would bring in $200 billion a year, enough to rehire every teacher who’s been laid off as well as provide universal pre-school for all toddlers).

    "Promote unions for low-wage workers."

    Where would we find the money?

    By shrinking the rich instead of government.

    Why the Tax Deal
     
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  2. Soggy in NOLA
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    Soggy in NOLA Platinum Member

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    Thanks Comrade!
     
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  3. georgephillip
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    georgephillip Gold Member Supporting Member

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    You're welcome, Slave.
     
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  4. Oddball
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    Oddball BANNED Supporting Member

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    That's because they're being taxed into the poor house, asswipe.
     
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  5. Soggy in NOLA
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    Soggy in NOLA Platinum Member

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    Sorry comrade, I'm self-employed.

    BTW.... the line for toilet paper and Vodka is getting longer, you'd better go stake out your place!
     
    Last edited: Dec 13, 2010
  6. Truthmatters
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    Truthmatters BANNED

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    Incase you fucking Becky ass miners have not noticed the wealthy have gained an pantload over the last decade.
     
  7. Soggy in NOLA
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    Soggy in NOLA Platinum Member

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    Huh??
     
  8. Oddball
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    Oddball BANNED Supporting Member

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    Waaaaaaawaaaaaaawaaaaaaa.

    And Americans have also never had such an expansive, expensive bureaucratic moocher state, sucking the life out of the productive.

    Coincidence?...I'd bet not.
     
  9. Claudette
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    Claudette Gold Member

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    Okay idiot. By idiots I mean TDM and GP No more Rich folks.

    If there were no wealthy in this country then who the hell do you think would be paying the majority of the Fed taxes in this country??

    Why the middle class of course. They would be the only ones left to pay for anything. The poor sure aren't going to pay their way.

    Oh Yeah. Sounds like a plan to me. NOT.
     
    Last edited: Dec 13, 2010
  10. PLYMCO_PILGRIM
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    PLYMCO_PILGRIM Gold Member

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    IF you shrink the governmnet you also shrink the rich. Our politicians and government workers all make far above the national wage average so by shrinking them you shrink the rich.

    I say make it so if you work for the government you can not make more than the national average salary for your pay.....all the way from the school janitor to the President of the United States.
     

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