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 30 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 30 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 30 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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A Warren Run Would Change Everything

Over the past few weeks, Elizabeth Warren has emerged as a leader of progressives on Capitol Hill. She led the charge against the part of the CRomnibus that gutted our financial regulations, and she is still fighting the White House over its nomination of bankster Antonio Weiss as Undersecretary of Domestic Finance in the Treasury Department.

From Screwed:
"The powers that be are running roughshod over the powers that OUGHT to be. Hartmann tells us what went wrong — and what you and I can do to help set American right again."
Jim Hightower, National Radio Commentator, Writer, Public Speaker, and author of the bestselling Thieves in High Places
From Cracking the Code:
"In Cracking the Code, Thom Hartmann, America’s most popular, informed, and articulate progressive talk show host and political analyst, tells us what makes humans vulnerable to unscrupulous propagandists and what we can do about it. It is essential reading for all Americans who are fed up with right-wing extremists manipulating our minds and politics to promote agendas contrary to our core values and interests."
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 Screwed:
"Thom Hartmann’s book explains in simple language and with concrete research the details of the Neo-con’s war against the American middle class. It proves what many have intuited and serves to remind us that without a healthy, employed, and vital middle class, America is no more than the richest Third World country on the planet."
Peter Coyote, Actor and author of Sleeping Where I Fall