“Since ,as Mr. Krugman points out ,that political gridlock is going to be the prefered role that Republicians wish to maintain is there any reason to try to have a Grand Bargain or in fact any bargain at all. Lets stop talking about compromising and move on to real ,useful, legislation.
Raise the top marginal tax rate to 70% and the capital gains rate to 35%.If arms need to be twisted in the House and Senate then lets' twist them. LBJ seemed good at that, have other Dems forgotten how this is done?
"People of privilege will always risk their complete destruction rather than surrender any material part of their advantage" John Kenneth Galbrath" (1977)”
99er2049er on Dec 4, 2012 at 09:52:51
“I would honestly be happy even if the tax rate were 39.5% and the capital gains was 39.5% also. But the higher on the wealthy, the better, so yes, 70% would be fine. But I am happy to get at least a return to the clinton era rates when we created a surplus in the first place before Bush blew it and threw us in debt. Never let a republican have control over our nations finances again, ever.”
“Very good points....And one way to combat concentration of wealth is to remove some of that wealth.
Raise the top marginal tax rate to 70% and the capital gains tax to 35-40 %.Curb the amount of wealth that is passed on through estates by raising the estate taxes. Small steps surely but a start.”
Moderation2win on Jul 23, 2013 at 11:33:01
“Great idea. How about we raise the top tax rate to 90% like in the 50's. Then Phil and friends in CA can pay 104.3% of their income to taxes. That will work, right?”
“People overwhelmingly support increasing tax contributions from large corporations....Lets not forget the tax contribution of the rich in this movement. Lets return to a top marginal tax rate of 70% and raise capital gains to 35-40%. Lets take a look at the estate tax rates as well. If you want to curb the concentration of wealth in the US doing something about inherited wealth is one more step we need to take.”
bah laggin on Jul 2, 2013 at 13:02:57
“I think you missed your calling as a mafia extortionist.”
martman1 on Jul 2, 2013 at 12:00:48
“I think an alternative minimum tax of 50% on all income from all sources above $2 million would work better.”
Irmanator on Jul 2, 2013 at 09:55:12
“100% agree however the people who would have to pay more currently own our politicians so it will never happen. They also own the media so they continue to promote ideas that keep us fighting each other over crumbs (unions bad, healthcare bad, food stamps bad, welfare bad, ...). We are locked in a death spiral.”
“Corporations play states off against one another and then don't honor their agreements. Take the DELL corporations' action in NC.They bargin their way into building a plant in an NC county with tax breaks etc. and a promise to stay 5 years.Two years later the plant is closed and they are in the wind.Governments are the agents of their citizens but only if these citizens take controll of what they require their government officers to do.”
Stewart Goss on May 28, 2013 at 11:07:26
“Oh please, everybody looks for the best deal they can get, but it is only "evil" when a corporation does it.”
“As to trickledown economics.....Young David Stockman,the bright-eyed boy wonder who ran Ronald Reagan's Office of Management and Budget, won fame in his first year at the White House for publicly telling the truth. His highly touted "supply-side econmics,"he told the "Atlantic Monthly's William Greider, was primarily "a Trojan horse", or decoy, for cutting the top tax rate for the highest earners from 70% down to 50%. (Steve Weissman, Reader Supported News)”
Bakutin on May 2, 2013 at 12:05:13
“Perhaps the originator of supply side economics is called "Laffer" for a reason.”
WVGALE on May 2, 2013 at 11:48:43
“That indeed is accurate, I remember it well only I believe Reagan got the taxes down to 2 rates 28% and 15%
For his honesty, Stockman was taken to the woodshed and told to shape up or ship out.
We're still suffering from the Reagan "voodoo economics" that look quite moderate when compared to todays screwball GOP (Reagan then raised taxes 6 times and wouldn't make it through the primaries today)”
“We need to get our "fiscal house in order"...."Lets" raise the top marginal tax rate to 70% and raise the capital gains rate to 35-40%. The "fiscal house" needs revenue, the rich have that revenue .
Lets tax them to reduce their wealth and transfer that wealth to the larger society.”
Ohyeahs on Apr 10, 2013 at 10:21:30
“You do understand that one of the biggest economic periods we have ever had was with a 39% top rate, a tax cut for the rich and austerity, right?”
“The first step in addressing the issue of income inequality is to raise taxes on the rich. A top marginal tax rate of 70% and a capital gains rate of 35-40% would be a good place to start.Increasing the minimum wage is also needed but does not address wealth concentration. Money needs to be moved back into the general economy. Taxes, will over time, do this.”
krocklin on Mar 14, 2013 at 09:33:22
“Not if they are evaded though bogus offshore shell corporations.
It makes no difference how high the rates are on Corporations and wealthy individuals, as they have always been able to find ways of evading taxes one way or another.
The answer is to raise the minimum wage to a livable one AND to tax the hell out of The Rich, but give them loopholes and shelters domestically that will actually contribute to the general economy.
The development of Renewable Energy for example, or Infrastructure Improvement.
This is the way it used to be when top tax rates were so high.”
“The Tea Party is a corparate front. The corparate goal is to undermine any laws (regulation) they believe affects their bottom line.This has been going on since the 70's.For corparate run healthcare the goal is the same. Read Steven Brill's piece in TIME,Why Medical Bills Are Killing Us.”
“Along with raising the minimum wage we should also be looking to raise the top marginal tax rate to 70% and the capital gains rate to 35%. As stated the minimum wage is likly to remain the area of least growth and to make up for this we need to increase taxes on the rich to fund Gov. programs targeted on those in the low income sectors.”
Bobcat226 on Feb 19, 2013 at 09:32:58
“70%? Are you kidding me? So if you live in NY, NJ or CA your effective rate would be more than 90% when you add local and state taxes.
Enough of your failed income redistribution policies. You don't like it, move to France. Oh, that's right, they blocked their ILLEGITIMATE tax structure as well.”
“Yes indeed raise more taxes.Lets start with a top marginal tax rate of 70%(some want a top rate of 90%) and a capital gains rate of 35-40%. We also need to create a new Glass-Steagall Act to protect the U.S. from financial adventurism. Remember The World Runs On Labor.”
Silverfern on Jan 28, 2013 at 11:14:14
“Thats just punitive. At what income range would you expect that the Government should get most of your money? You would not be suggesting this if it was going to impact on your own income.”
Emmory on Jan 28, 2013 at 10:35:47
“35 to 40% capitol gains tax?
You think that's a good idea?
Let me get this straight...
So if I spend 10 years writing a novel and then during the 11th year I sell it for $100,000, you think I should be taxed like it only took me ONE year to earn it?
If my 401k sits there making money for 10 years you think I should be charged like it only took ONE year to make that money?
“Yes indeed we need more revenue. Not a top marginal tax rate of 39.5% but a top marginal tax rate of 70%. A capital gains rate of 35% to 40% would also be a good idea. The only tax cuts needed are for the working class and that only until the economy really recovers.”
“Yes it's true folks. You can't have a first world economy paying third world wages.
"People of privilege will always risk their complete destruction rather than surrender any material part of their advantage".John Kenneth Galbraith”
snewsom2997 on Dec 12, 2012 at 11:03:10
“The 1st world 3rd world, was a function of governments not wages, the 1st world was the US and its allies, the 2nd world was the Warsaw Pact, the third world was every where else, that is what 1st word, 2nd world, 3rd world originated from, and as a matter of fact in many 3rd world countries you have I much higher standard of living, that in the Communist 2nd world countries.”
katiec1963 on Dec 12, 2012 at 10:27:22
“He was so quotable.
Wish his son had his charisma, he does have his brain, however.”
“The top marginal tax rate from around 1960 to around 1980 was set at about 70%. I did not see a mass exodus of the rich in this time period. Look at the tax rates from 1900 to 1980 to get an idea of how this rate has changed over time.”
“The, Fix the Debt, lobby group is of course the same people who have been after Social Security since FDR created it in the 30's. It is amazing to hear Republicians crying about the DEBT when their party has a consistent record of deficit spending.( we won't even talk about George Bush since everybody has seeming forgotten about his 8 years in office). If you want to Fix the Debt tax the rich.”
katiec1963 on Dec 11, 2012 at 10:29:59
“Also, they keep inflating the deficit with the debt.
They're different, it's propaganda to conflate the two.
Deficit = how many money points the fed creates out of thin air, which become dollar objects for the private sector to use. The deficit does NOT signal a debt.
Debt = dollars owed on for interest when people want to invest in bonds, like you, and foreign nations. Or money owed to intergovernmental agencies. Most debt is owed to ourselves.
All debt is paid through the creation of liquidity points the fed gov creates out of thin air, which become dollars for you and me.
“..."tax the rich" policies...are laughably timid and tame...I could't agree more. I propose a top marginal tax rate of 70% and a capital gains rate of 35%. Raise the tax rates on estates that are over 2 million in liquid assets and raise rates on small business and family farms that are over 5 million.
"People of privilege will always risk their complete destruction rather than surrender any material part of their advantage". John Kenneth Galbraith.”
Poolkid55 on Dec 11, 2012 at 11:03:37
“If you confiscate 70 cents of every earned dollar on the highest earners, you will see a mass exodus from this country the likes of which have never happened.”
“A progressive tax such as this for starters....a top marginal tax rate of 70% and a capital gains tax rate of 35%. Obama has also proposed a tax rate on estates of 45% on (I believe) those above 5 million.”
julieintx on Dec 6, 2012 at 10:55:50
“I heard 3.5 million, but that was a few weeks ago.
We shouldn't have an estate tax, but if we have to, the exemption should be at least 5 million. The tax is a blight on farmers and small businessmen, and hurts open space conservation too.”
“What is of most interest to me is the fact that a Washington Lobbyist is making policy decisions. I don't remenber voting Grover Norquist or any other washington lobbyist into office. The question is, how many other policy decisions are being made by lobbyists.
"People of privilege will always risk their complete destruction rather than surrender any material part of their advantage" John Kenneth Galbraith (1977).”
necamw on Nov 29, 2012 at 10:52:03
“"how many other policy decisions are being made by lobbyists"
Answer: Nearly all of them.”
JacksonHts on Nov 29, 2012 at 09:31:03
“He is basically an extortionist. He was on TV this week advocating for the TPGOP House Caucus to extend the Debt Ceiling Week by Week, but "only if the President is good." He has a perverted view of the Constitution the TPGOP so hypocritically read on the Floor on the first day of the 2010 Congress.”
“...CEOs argued that it is time for America to put on its big-boy pants....I agree, these pants must fit in this way ,raise the top marginal tax rate to 70%, raise the capital gains rate to 35%,take as much money as possible from the top of the economy and inject it into the bottom. Message to the rich...I want to hear you scream.
"People of privilege will always risk their complete destruction rather than surrender any
material part of their advantage"
John Kenneth Galbraith (1977)”
twood886 on Nov 15, 2012 at 09:37:53
“Yes take another persons property and give it to someone else. Sounds like a reasonable plan. This time redistribution of wealth will totally work. Don't pay attention to history.”