REFORM the Republican tax cuts

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REFORM the Republican tax cuts

The Democrats and progressives need to take charge of the issue of the lapsing Bush tax cuts. Instead of talking about letting parts of it lapse while renewing other parts, the talking point should be to REFORM the Republican tax cuts.

Republican tax cuts: Never paid for once in ten years. 40% of the tax cuts went to the super wealthy (those who earn over a half million dollars a year) while giving a sliver of the tax cuts to the middle 99% of Americans.

Reformed Democrat tax cuts: Paid for. All of the tax cuts go towards the middle 99% of Americans and small businesses, thus reducing the taxes on most Americans - the ones who most drive the economy.

InCedar's picture
InCedar
Joined:
Jul. 31, 2007 4:01 pm

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Republican rhetoric insists that no nation ever taxed itself into prosperity. It seems intuitively obvious, but wait a minute. Look around and see where we have prosperity and where we have poverty. Unless you measure prosperity by the number of billionaires rather than the absence of poverty and shared abundance, it will be easy to see why high tax states and countries do so much better than those with low taxes.

What makes a great business environment? Infrastructure. People with education and skills. Great healthcare and public health. Customers with money in their pockets.

What makes a great sweatshop or plantation? Slaves. Products one sells elsewhere. Authoritarian government controlled by the owners.

High marginal tax rates do not kill the motivation to work, but they do get in the way of greed. The knowledge that one's security is not dependent upon "jobs" instead of one's being may free us to pursue work we desire or even love, but it can also make menial labor only how money is earned to pursue other areas of life highly undervalued in any market.

It also makes us less jealous of the success of others. Sharing and caring are the paths to real wealth.

DRC's picture
DRC
Joined:
Jul. 31, 2007 4:01 pm
Quote InCedar:All of the tax cuts go towards the middle 99% of Americans and small businesses,
The middle 99% ? So the bottom 1/2% and upper 1/2% don't get a tax cut?

stwo's picture
stwo
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Jul. 31, 2007 4:01 pm

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Who Should an Economy Serve?

The top one percent own half of all the world's assets. In stark contrast, the bottom fifty percent of the world owns less than one percent. According to the 2014 Global Wealth Report from Credit Suisse, global inequality has surged since the 2008 financial collapse. The report explains that while global wealth has more than doubled since the year 2000, the vast majority of overall growth has gone to those who were already wealthy.

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