Skip to main content

View Diary: Take a Hard Line: We Should be Rolling Back the REAGAN Tax Cuts for the Rich, Not Just Bush (54 comments)

Comment Preferences

  •  The Main Point of Those High Upper End Rates Isn't (18+ / 0-)

    so much to gather revenue as to prevent extreme incomes from being offered and sought. That, in turn, (along with other taxation) kept most of the nation's income and wealth mostly in the hands of the bottom 80% or so, instead of concentrated in the top 3-5% as today.

    We only had a vibrant large middle class once in human history, during the mid 20th century period of American and other developed world liberalism which required such compressive progressive taxation to keep the wealth in circulation.

    The other thing those compressive tax rates prevents is the bubble-crash economy, because with so much money in the hands of the people, the more modest wealth the rich do have can be invested mainly in production. Today businesses are sitting on trillions in cash as the stock market is more about gambling than production, because the people are tapped out and can't buy any more.

    Of course most of our leaders in both parties know this. That's why we have to begin working on creating better Democrats and not continue the past 30 years of mostly trying to pressure the ones the party creates.

    We are called to speak for the weak, for the voiceless, for victims of our nation and for those it calls enemy.... --ML King "Beyond Vietnam"

    by Gooserock on Thu Nov 15, 2012 at 10:14:46 AM PST

    •  Agreed. (7+ / 0-)

      We also have to begin working to balance the selfish mentality in our culture, and recreate a sense of civic responsibility and pride where everyone is aware that taxes are beneficial to society.  It's insane that politicians have to move heaven and Earth to get people on board with tax increases at a time when people are going without healthcare, schools are test mills, and roads are crumbling.

      "They fear this man. They know he will see farther than they, and he will bind them with ancient logics." -The stoner guy in The Cabin in the Woods

      by Troubadour on Thu Nov 15, 2012 at 10:22:55 AM PST

      [ Parent ]

    •  Its about having a stable economy. (3+ / 0-)
      Recommended by:
      Troubadour, jessical, Mr Robert

      FDR 9-23-33, "If we cannot do this one way, we will do it another way. But do it we will.

      by Roger Fox on Thu Nov 15, 2012 at 11:25:23 AM PST

      [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site