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View Diary: Most Americans saw their total tax rates fall over the past 30 years. But the rich made out best (37 comments)

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  •  Yes. Yes. Exactly. (3+ / 0-)
    Recommended by:
    divineorder, War on Error, DSPS owl

    To reiterate a comment I just made regarding tax hikes across the board:

    Our economy happens to be deathly ill right now. It's not even breathing on its own, like it was in 2003. Thus, taking any dollars away from the decimated consumer class is pretty much the kiss of death. That is what the IMF and G20 announced less than a month ago about our tax hikes (coupled with the sequestered cuts). But then, they have economists who were not educated in the United States -- so they have an advantage over us in predicting economic outcomes.
    But, yes. When we can, we must return to the tax structure that created America's middle class and its 70-percent consumer-spending engine.

    I don't know if that is sustainable, but on the way back to normalcy -- we'll find the sweet spot of economic justice. Right now, we are moving far, far away in the wrong direction.

    A child of five would understand this. Send someone to fetch a child of five. -- Groucho Marx

    by Pluto on Mon Dec 03, 2012 at 07:11:48 PM PST

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    •  All in the Trickle Up Poverty Plan, right? (1+ / 0-)
      Recommended by:

      It's difficult to be happy knowing so many suffer. We must unite.

      by War on Error on Mon Dec 03, 2012 at 07:32:24 PM PST

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    •  IMF Economists are Clueless (0+ / 0-)

      Its forecast for 2013 Greek GDP will have been off by at least 22%.

      22% !!!!!!!!!!!!!!!!!!!!!!!!!

      The IMF forecast for 2013 nominal GDP has been reduced by an astonishing 22% in the two years since Nov 2010. In our opinion it is this unanticipated decline in economic activity that has surprised the Fund, and driven a stake through the heart of the programme. We would be interested to hear if someone else knows of a bigger or more significant 2-year forecasting revision for an industrialised economy.

      Learn about Centrist Economics, learn about Robert Rubin's Hamilton Project.

      by PatriciaVa on Mon Dec 03, 2012 at 08:01:02 PM PST

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      •  Are you not Miss "Greece is going to be kicked out (0+ / 0-)

        ...of the EU and the Euro is going to fail"? Over a year ago?

        Greece is going nowhere and neither is the EU.

        As I've told you repeatedly.

        A child of five would understand this. Send someone to fetch a child of five. -- Groucho Marx

        by Pluto on Mon Dec 03, 2012 at 09:12:53 PM PST

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