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View Diary: Sanders Echoes Durbin, Peterson: "Big $ Controls Agenda" (24 comments)

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  •  Just repeal the Reagan tax cuts (2+ / 0-)
    Recommended by:
    mataliandy, Outrider

    bring back 70 percent top marginal rate, or 50% with no deductions or exemptions, or write offs, for adjusted gross incomes over $2.5 million a year. And include all income in all forms, kill the silly 15% capital gains tax that allows the ultrawealthy and the speculators to pay a lower percentage of their income in taxes than most middle to upper middle class taxpayers. Tax all income the same, regardless of its source. And impose a tobin transaction tax of 0.5% on all financial instrument sales.

    This step alone will get rid of most of the economic incentives for the ponzi schemes and powerball tickets derivatives and credit default swaps. Tax the shit out of them. Consider it a sin tax.

    Note: politicians never blink about taxing booze and cigarettes (although I am sympathetic to taxing these items due to the ills they cause), but unlike a tobin tax or taxing capital gains at ordinary income rates, these taxes disproportionately hit the lower classes, so they are an easy sell to the sellouts in Congress.

    "There's a bailout coming, but it's not for me, it's for all the creeps watching the ticker on TV"-Neil Young

    by NoMoreLies on Sat Sep 26, 2009 at 08:15:58 PM PDT

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