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View Diary: Share Our Wealth (14 comments)

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  •  Question: (2+ / 0-)
    Recommended by:
    KVoimakas, gerrilea

    "Very little tax on income under $250,000 a year. This is made possible by higher taxes on the very rich."

    How do you know the math works out?  THat is, how do you know that the increased taxes on the wealthy will generate the same amount of revenue?  

    •  I really don't. I took a stab at it. (1+ / 0-)
      Recommended by:
      gerrilea

      This is just a framework. There could be lots of minor (or major) tweaks needed before this could be a viable solution.

      But my head's in the right place. :-)

    •  We have historical fact to guide us. (1+ / 0-)
      Recommended by:
      KVoimakas

      When Income Was Taxed at 94%: How FDR Tackled Debt and Reckless Republicans

      Congress shrugged that request off, too. FDR still didn’t back down. In early October, he issued an executive order that limited top corporate salaries to $25,000 after taxes. The move would “provide for greater equality in contributing to the war effort,” Roosevelt declared.
      That would be about $350,000 in today’s dollars.
      Could you imagine the outrage the corporate elite in DC would react if a POTUS did that today?

      Portal:Outsourcing America Exposed

      A case worker making $4 million a year?

      CMD Exposes America’s “Highest Paid Government Workers”

      K12 Inc. is a publicly-traded (NYSE: LRN) for-profit, online education company headquartered in Herndon, Virginia. On its own and as a member of the American Legislative Exchange Council (ALEC), K12 Inc. has pushed a national agenda to replace bricks and mortar classrooms with computers and replace actual teachers with "virtual" ones.

      -cut-

      From 2009-2013, Packard made over $19 million in compensation, and compensation to his top executives skyrocketed 96 percent in 2013. Thank you taxpayers!

      So, this guy gets paid $5 million a year and wishes to delete actual teachers in our schools.

      How about we compromise and just limit CEO pay to $500,000 a year and tax them at 47%.  They'd still make millions and we could rebuild the American Dream.

      -7.62; -5.95 The scientists of today think deeply instead of clearly. One must be sane to think clearly, but one can think deeply and be quite insane.~Tesla

      by gerrilea on Tue Jan 21, 2014 at 08:40:07 AM PST

      [ Parent ]

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