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View Diary: Taxing the rich: it's not about "fairness" (182 comments)

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  •  Free market economies fail with maldistribution (0+ / 0-)

    It's not just desirable outcomes, it is that the economy is not stable without income directed to the broad consumer base. If you produce $100 worth of goods or services then that has to be consumed. Ideally you would receive $100 in income, thus receiving the benefit of your labor and keeping the economy going by being able to purchase the output of the economy as an aggregate. We have kept the post 1970 economy going by the cycle of wealth and debt.

    In fact, there is no good reason to have wealth above the median. Capital can be formed from broad based savings. The wealthy have simply stolen the labor of the workers and in the process destroy the economy.

    The irony here is that the real tax on the 99% is not from the government but from the top 1%. If Republicans really want the average American to do better and get the heavy yoke of economic oppression off of the people they would insist on an extreme progressive income tax. But that's not what they really care about, is it?

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