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

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  •  Let's reserve the 91% for "extremists" (hehehe). (3+ / 0-)
    Recommended by:
    Roger Fox, Kurt from CMH, chmood

    We, the right reasonable folk, will settle for restoring 70%.

    "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 11:03:48 AM PST

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    •  I think 70% is near the balance point (4+ / 0-)

      remember in 1980 the effective rate was 22.3%, so if you did the right thing and invested in the US you got tax breaks and shelters. Dollar wise thats a huge chunk of change to reward good behavior, which was part of New Deal Tax Policy.

      Recessions were shorter and shallower, and every recovery saw job creation, we spent 5% of GDP on infrastructure, not 1.3%. Today that would mean the Government spending 750 billion, and tax policy might incentivize another 200-400 billion being moved to domestic investment. All told that would create between 20 and 27 million jobs.

      Now adays, tax policy favors overseas and market speculation. And thats why after the 1986 Tax Reform Act, (among other things) we see the jobless recovery after recessions (1990, 2000, 2008-) and these recessions are longer and deeper.

      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 12:08:38 PM PST

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    •  " '64 in '14! " (1+ / 0-)
      Recommended by:
      Troubadour

      not a bad slogan for a plank on re-establishing the 1964 tax rates once we retake the House in 2014.

      We WILL need to retake the House to do it, but hey - why not?  It's gotta be done, and there's no time like the present to start!

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

      by chmood on Thu Nov 15, 2012 at 05:15:56 PM PST

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      •  We will most likely lose seats in 2014. (1+ / 0-)
        Recommended by:
        chmood

        Big money has a way bigger electoral advantage in midterm elections, and turnout is typically low among the party with the White House.

        "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 05:26:09 PM PST

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        •  I know they keep saying that, but isn't it just a (1+ / 0-)
          Recommended by:
          Troubadour

          ...self-fulfilling prophecy?  I mean, the Pugs have been turning their folks out every 2 years like clockwork for decades, because they've been determined to attain the current mess as their desired result.

          If DEM turnout drops @ the mid-terms, well that's what we need to fix, right?

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

          by chmood on Thu Nov 15, 2012 at 06:22:24 PM PST

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