To the extent that this favorable tax treatment facilitates economic expansion, the overall economy is mis-structured. Moving more assets to the wealthy should certainly not be a prerequisite for job development and economic progress.
If Republicans won't budge on raising tax rates but insist on broadening the base, Democrats should take aim at the biggest tax loophole of all for America's wealthy: the preference for capital gains. Capital gains should be taxed the same as ordinary income.
Obama is going to win the election this year and when he does, I want him to raise taxes on wealthy Americans by repealing the Bush tax cuts or introducing new tax legislation on the "1 percent" as well as capital gains.
Most of us are familiar with the adage that small businesses create up to 80 percent of all jobs; however, the new Census Bureau database shows that it's not so much small businesses that create jobs as it is new businesses.