First, Conservatives have been raising middle class taxes for hundreds of years and have escalated their class warfare since 1968. If a plan increases deficits or debts, shifts taxes to the local levels, and cuts taxes for the top 1%, it is a TAX INCREASE. Any person who says "Bush Tax Cut" is either mistaken, lying, or ignorantly playing into their hands.
Second, tax rates should shift depending on where they are. So when they were 91% for the top1% under Truman and were reduced to 70% under JFK, that may be ok. But when they've gone down to the twenties and thirties and in some cases zero with all the tax finagling and loopholes, then re-raising those taxes is prudent and proper.
Third, we need to fix our 8 trillion dollar debt, schools, health care, housing, and environment. That will mean increased spending in some areas but I can assure you we can cut spending by the billions elsewhere. It's not a question of less spending or more spending. Conservatives spend more than liberals, they just misspend it.
Fourth, so here are some solutions. A) let's have a 1 time surcharge or assets tax (Conservative Donald Trump suggested this) on the top 1% and multinational corporations. The amount would apply to couples with over 3 million dollars in assets or a single person with 1.5 million in assets. We'd start with a 10% surcharge on these base amounts and then increase up to 40% when we get over $100,000,000. B) We eliminate all tax loopholes for corporations in places like the Cayman Islands and restore the alternative minimum tax at a rate of 40% for corporations. C) we increase capital gains taxes back up to 40%. D) We redo payroll taxes by getting rid of the FICA caps, reducing the SS tax down to 5% under $100,000 of wages and then increase it to 15% for all wages above $100,000. E) We redo the income tax and return rates to the Kennedy Era (70% on wealth over 5 million per year.) by making the structure highly progressive. This means a tax cut for the bottom 95%. F) no more welfare or tax abatements. Yes we keep the home mortgage income deduction for houses valued up to 2 million. G) Then we can have other proposals such as tax credits for education, health care, student loan forgiveness, etc.... H) 60% estate tax on all estates starting at 4 million dollars. ZERO for all estates under it. I) When accused of class warfare, of course it's class warfare. That's what's Republicans have been doing to the middle class. So I want to reverse what they do. If Paris Hilton gets screwed a little (she can afford two yachts instead of three) and 95% of people in society are better off because of it, I have no problem with that.
