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

  •  Of course not. Stupid question. (6+ / 0-)

    "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 10:23:52 AM PST

    [ Parent ]

    •  Ahhh, yes it does (1+ / 0-)
      Recommended by:
      Troubadour

      In the form of breaks for emerging tech and markets like Wind power, HVDC supergrid, pumped hydro and solar thermal storage and Solar.

      Domestic investment pre 86 TRA was rewarded.

      Remember in 1980 the top marginal rate on income was 70%, and the effective rate was 22.3%.

      Today its 35% and about 19-20%.

      SO in between 1980 and 2012 about 60% of deductions exemptions and shelters were removed. Some of them were based on Industrial policy which Sidney Hillman advocated for in the 30's. Hillman was a great labor organizer, head of the ACW, later AFLCIO. Part of FDR's kitchen cabinet, a huge advocate for the Wisconsin Plan which became Social Security.

      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 11:36:25 AM PST

      [ Parent ]

      •  The details are good for policy discussion (1+ / 0-)
        Recommended by:
        Roger Fox

        but as far as politics goes, we simply have to get our ducks in a row that 39% is not even close to being an adequate top marginal tax rate.

        "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 11:45:10 AM PST

        [ Parent ]

        •  39% aint going to do it, no phreakin way (2+ / 0-)
          Recommended by:
          Troubadour, chmood

          details again....

          We have to stop taxing working and middle class families out of the economy. And current tax policy helps make an unstable economy.

          Without large scale changes there will be a major economic downturn before the end of the decade.

          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 12:32:07 PM PST

          [ Parent ]

          •  And may we never forget that an unstable economy (1+ / 0-)
            Recommended by:
            Troubadour

            ...makes a MIGHTY contribution to social and cultural instability - and things only get worse from there.

            "Reagan proved deficits don't matter" - Dick Cheney

            by chmood on Thu Nov 15, 2012 at 05:04:33 PM PST

            [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site