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View Diary: Share Our Wealth (76 comments)

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  •  Income Tax Must Rise Much Sooner As They Did (5+ / 0-)

    before Reagan.

    We found for half a century that it was crucial for incomes more than a very few times the median to be tax-compressed in order to keep many sectors of the economy competitive.

    Under your scheme all sorts of activity, possibly journalism for example, would be unable to compete for investors and top talent, when 11 million a year can be mostly taken home.

    Don't stray from the much more compressive Ike-Carter era rates, adjusted to today's median income, as a starting point. Then if you're going to cut taxes so much on the upper middle class and modestly rich, there'd better be a boatload of analysis proving that the rich won't still end up way too rich as a group, and that we can still restore a highly diverse economy that we once had that will offer opportunity to all as we once had.

    We are called to speak for the weak, for the voiceless, for victims of our nation and for those it calls enemy.... --ML King "Beyond Vietnam"

    by Gooserock on Wed Mar 02, 2011 at 05:44:54 AM PST

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