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

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  •  A thousand recs! (2+ / 0-)
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    RobLewis, Amber6541

    I have viewed this issue in exactly this way for a long time: wealth concentration and income inequality are so harmful to the overall economy, and to the average folks whose labor makes our capitalist system possible, that avoiding it must be a top priority.

    Just imagine how a median income of $86K would affect retail sales? Or the ability of parents to send their kids to college? Many of our economic problems are related to people not having enough money to fully participate in the economy.

    The current "debate" over whether the top marginal rate should be 35% or 39% is a joke. It should be around a 60% to 70% effective rate, with cap gains taxed as ordinary income, and a stiff inheritance tax to boot.

    To have any hope of truly reforming the system we must get money out of politics. As long as the rich are allowed to purchase the services of politicians, we will not have politicians willing to raise taxes on the wealthy in any significant way.

    Again, great diary. We must stop using the right's frames of this issue.

    "A lie is not the other side of a story; it's just a lie."

    by happy camper on Mon Nov 26, 2012 at 06:50:04 AM PST

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