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  •  Proper tax policy will more than (0+ / 0-)

    make a dent. Taxing incomes above 250K,basically repealing those Bush tax cuts,will indeed pay down the debt & return capital to circulation.(well over the trillion mark) The other tax tweaks I mentioned will go further still. Right now,we have a level of capital flight to the top we haven't seen in 100 years. Never good in any society. In the past,we crafted tax policy to dis-incentivize this from happening. For example, make it more advantageous for a business owner to re-invest in his business(or someone else's) not just hoard his cash. We had reasonable tariff and trade protections as well. Collecting revenue was understood to be part of growing a healthy economy. The fact is that hasn't changed. It never can. Basic econ,note the second chart here.

    If you are at all sincere at looking at economic policy from a more broad viewpoint,I'd recommend you read
    The Spirit Level: Why More Equal Societies Almost Always Do Better by Pickett & Wilkinson Not a book by economists,some might find that a virtue. I do.

    If you insist on reading economists,perhaps Krugman,Dean Baker,Jamie Galbraith or Ha-Joon Chang (one of my faves) would interest you. Of course,you can always get all scholarly and read A Modern Guide to Macroeconomics: An Introduction to Competing Schools of Thought by Brian Snowdon.

    Reading aside,the fact is that the USA has the resources to provide for all its citizens.We are not broke.The question is whether we allow the continued pillaging of our labor and our resources for a favored few.

    "George RR Martin is not your bitch" ~~ Neil Gaiman

    by tardis10 on Fri Apr 08, 2011 at 04:24:16 PM PDT

    [ Parent ]

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