Yes! and soon because we're tapping the pensions of federal workers to prevent economic calamity.
25% (6 votes)
No! and Republicans are demanding that everything should be on the table except for what CAN ACTUALLY fix this – raising taxes.
75% (18 votes)
Total votes: 24

Comments

ronsonntag's picture
ronsonntag 3 years 37 weeks ago

The super-rich can completely change the course of this national debt. Just raising taxes on the top 1% by only 2 percentage points resulted in an estimated federal revenue increase of OVER $800 BILLION over 10 years. Now, do the math for what raising it to pre-Regan levels would be...instead of 2 percentage point increase, we are now talking about a 35 percentage point increase (from about 35% to 70%). That is about 12.5 times MORE REVENUE. What is 12.5 x $800 BILLION? It is $10 TRILLION!!! Now that would put a dent in our national debt, wouldn't it?

Oh? You're concerned about the terrible pain that would inflict on the super rich? Let's see, right now they are, as a group, paying only 17% in taxes on their over $10 MILLION dollars of income per year (because of all the loop-holes they can afford to hire tax attorneys to find). That leaves them with, $8,700,000 PER YEAR to play with. So now, if they REALLY pay 70%, then they get to play with $3,000,000 per year. OH NO! ONLY $3,000,000 / year to LIVE ON! OMG!! HOW COMPLETELY HORRIBLE!!!

Right. Quite whining you greedy capitalistic pigs!

Oh, and at one point, their tax rate was actually at 90%, back when we had a strong economy and the middle class was doing the best ever. So much for trickle-down economics. I think it was a wolf in sheeps clothing - actually implemented trickle-up wealth building!

cyurchak's picture
cyurchak 3 years 37 weeks ago

We should raise the taxes on the wealthy and the corporations who use our commons . Followed by first freezing then cutting the defense budget by 30%.

Regina Tollfeldt's picture
Regina Tollfeldt 3 years 37 weeks ago

The repubs are at it again with their threats "If you do not..........." I say do not cave in to them AGAIN or they will keep up with their threats. They have lucked out so far with those threats, but I for one wish this would stop.

I believe that the tax rates should be upped on the upper 2% who have been getting away with murder at the expense of the low/middle/labor classes and it is about time that they sacrifice something for a change. The crooks who are getting rich off our backs need to pay for their machinations for self. Getting blood out of a turnip does not work after a certain length of time. The coldness of the richies is hard to handle when one is scraping the bottom of the garbage pile to feed his/her families.

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The Middle Class Needs More Than Talking Points

Lawmakers on both sides of the aisle have been talking a lot about the middle class. But, that talk is cheap as long as their in bed with Wall Street.

From Cracking the Code:
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David C. Korten, author of The Great Turning: From Empire to Earth Community and When Corporations Rule the World and board chair of YES! magazine
From Cracking the Code:
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From Cracking the Code:
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to understand how to respond when they’re talking about public issues with coworkers, neighbors, and friends. This book explores some of the key perspectives behind his approach, teaching us not just how to find the facts, but to talk about what they mean in a way that people will hear."