Wednesday, August 10, 2011

Why not cap income taxes the same way as the payroll tax?

The "spending cuts" would be, presumably" on the very services you said the least wealthy 80% tend to lean on the most, and that is after you shifted the tax burden onto them off the wealthiest. The 400 people who control 10% of the $14.8 trillion GDP would then be taxed at a rate of less than 1%. In this age we have forsaken the working cl as somehow being dependent on the superior skills of the elite, whose magical skills organize resources to maximum efficiency, thereby multiplying our resources many fold. This, of course, is nonsense. We've seen wealth agglomerate with those who control resources without a substantial increase in the general wealth, and we ought to regard this as a sophisticated kind of theft. Without progressive taxation, there is no way to recover the stolen resources.

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