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View Diary: Give Me One Good Reason Why The Rich Should Pay Higher Taxes (214 comments)

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  •  Taxing the higher incomes (3+ / 0-)
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    Ahianne, Into The Woods, DawnN

    and making perks tax-free would stimulate the economy a lot more than just cutting taxes for the rich. The rich just "invest" the extra money, they don't spend it on stuff that gets manufactured and creates jobs.

    Back in my dad's day, the top executives "topped out" at a certain level and then got extra perks like company cars and custom offices and paid memberships. That worked for everyone, kept the brass happy and meant jobs all around. (P.S. AND back in my dad's day (he was a CFO), if you did a crappy job you got fired, you didn't get a frakin' golden parachute.)

    It is also easier (and less damaging to morale) to reduce perks in a downturn than it is to reduce paychecks among the executives.

    •  P.P.S. Without higher taxation (3+ / 0-)
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      Ahianne, Into The Woods, DawnN

      Corporations get into bidding wars for top executive talent, which has led us to these obscene CEO salaries and bonuses (regardless of corporate success.) "Back in the day" the salaries were all pretty much on executives looked at other things that made a company attactive. Those things were and are exactly the things that once made American businesses shine. Now everything is about money, which is why we don't make shit anymore.

      If I'm the best CEO in the world, today I'll go with whoever pays me the most and I'll have all sorts of escape clauses in my contract. So why would I care if I take the company over the ledge and totally ruin it?? But if I make the decision to work for a company based on other factors and my compensation is tied to performance and I am taxed heavily if I'm paid too much (but I get more and more perks that can't be taken with me when I go) then I am more likely to do a better job at CEOing.

      It's not about punishment or class warfare or robbing the rich to pay the poor. It's about ensuring our American businesses stay on the right footing. It's a little bit about "social engineering" but doing it with companies, not individuals.

      Free enterprise is here to serve US, the people of a democracy, not the other way around. And our country's businesses are OUR businesses, when it comes right down to it. We need to pass laws (and thusly taxes) that encourage better corporate governance.

    •  That generation understood concept of 'enough' (2+ / 0-)
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      Ahianne, DawnN

      And thought of 'greed' as something bad.

      The thing is, in most countries the excesses we've seen and the rampant disparities in how the economy allocates it's reward have just not been evident.

      Something fundamental is underneath this, something of morals and principles and how we define ourselves as a country.

      It's 'redistribution' whether it happens before or after the money is made and whether it goes up to a small group or down to a larger one.

      by Into The Woods on Thu May 13, 2010 at 06:58:29 PM PDT

      [ Parent ]

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