'Another means of silently lessening the inequality of property is to exempt all from taxation below a certain point, and to tax the higher portions of property in geometrical progression as they rise'.
Thomas Jefferson to James Madison
28 Oct. 1785
From : http://press-pubs.uchicago.edu/founders/documents/v1ch15s32.html
Yeah I saw the story on that Representative. The bottom line, to him, was that he'd only have $400,000 left to reinvest in his bussiness.
http://thinkprogress.org/economy/2011/09/19/322405/gop-rep-whines-400k/
Now from another perspective, how much more in taxes would he pay if his rate was rasied to 39% - pre Bush 'Tax Cuts'?
He'd pay what, an additional $4500 TO $9000?
http://www.politico.com/news/stories/0811/60717.html
Now seriously. How much is that really going to effect his 'reinvestment'?
We had two very large tax cuts under President Bush and the Republican Congress.
One of your favorite links (GRINS!)
http://wallstreetgreek.blogspot.com/2011/09/taxes-and-deficit-seed-of-corruption.html
We then started two wars - WITHOUT RAISING TAXES TO PAY FOR THEM.
We then put in place a perscription drug benefit - WITHOUT RASING REVENUES TO PAY FOR IT.
We are facing massive unemployment and underemployment that is putting a larger and larger drain on social safety net programs.
Well unless we adopt the Tea Party Clint Didier standard -
'"We've got to get rid of this 'protecting the weak.'
From : http://o.seattletimes.nwsource.com/html/localnews/2012416668_didier22m.html
Mass graves? Maybe export poor people? Or just pretend they don't exsist?
That higher unemployment ALSO REDUCES federal tax revenues as fewer people pay taxes and more are 'underemployed' so pay less in taxes.
Those two dynamics alone are putitng a huge strain on our economy. This is an abstract. It's the 'social compact' that exsists between our Government and 'We The People'.
Some people actually believe in that 'social compact' and some don't. That currently is the ideological war or 'class warfare' if you like, that is taking shape/place.
What's not an abstract is the crumbling of our infrastructure.
http://t4america.org/
Go too this link to see the bridges within 10 miles of you : http://t4america.org/resources/bridges/
We have kept reducing, cutting taxes as campaign promises both from Republicans and Democrats.
http://visualizingeconomics.com/2007/11/03/nytimes-historical-tax-rates-by-income-group/
http://jaredbernsteinblog.com/buff-tax/
THAT is why we do indeed have a 'spending' problem. We keep reducing taxes/revenues so that we DO have a problem stretching the fewer and fewer tax dollars on, because of our procrastination on infrastructure and because of the economic recession on social programs.
I am in favor and have been for yerars of a flat tax. That's never going to happen. Or not under our present legislative structure. Nor is Speaker Boehner's 'tax reform' goinng to happen. Too much money in politics to EVER, EVER even attempt to have a fair tax code.
So lets undo what to a major degree, is causiing us to be in the position we are in.
You are always going to have fraud and corruption in social programs.
http://en.wikipedia.org/wiki/Welfare_fraud
Nowhere near the dollar amount as we do in corporate fraud.
http://www.pogo.org/
And don't worry. The Hollywood types will be taxed at higher rates also.
The alternative is to not raise taxes.
Continue to give hundreds of millions and billions of dollars in subsidies and tax breaks to corporations because they are the 'job creators'.
Continue to give and keep lower then in even our recent history, lower tax rates for the wealthier because they are the 'job creators'.
Now start asking yourself, if they are the 'job creators' why do we have such high unemployment?
Fear of uncertainity?
A good reason. After all they should expect a perfect economic climate before they invest or reinvest. They shouldn't take ANY risks. Should they.
Well sad to say our economy in slowly collasping. SO SOMEBODY better take the risk.
Allow me to introduce you to the ONLY entity left to take the risk to at least attempt to support and maybe even jump start our economy - the US Government.
They can't wait for the 'perfect economic' climate so that they won't 'risk' investment.
Are President Obama's proposals going to work?
At least they could, could have relatively quick effects. Speaker Boehners' not so much.
Cutting taxes does NOT create jobs. Tax reform is never going to happen. Cutting the scope of Government when more and more people are needing to depending on it - just stupid.
Actually I think Obama's proposals are too little and too late.
But it's certainly better then the alternative.
We either tax those who have the money as they can afford it and they are not creating jobs.
Or we tax the middle class who can't afford it and with less money to spend will spend less and continue the cycle of companies laying off more people because business is down because fewer customers.
Or we cut maore and more Government social program at a time when they are needed by more and more people. Because Government is a balance sheet - not people.
And all the while as we don't raise taxes, our infrastructure keeps falling down. Our education system keeps failing. Our health care is for profit insurance companies not actual 'healt care'.
Which America do you want. A question I've asked before.
One where, as we have historicaly done, those who have help?
Or one, a direction that the extreme right is taking, those who have it -keep it for themselves?
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