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If I remember right, Clinton raised the tax rate to 39% and the country did fine. And this is exactly what Obama's doing--letting the tax cuts go back to where they were during the 90s.
Not only that, but the progressive income tax was championed by none other than Mr. Capitalism himself--Adam Smith
Quote:
The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. A tax upon house-rents, therefore, would in general fall heaviest upon the rich; and in this sort of inequality there would not, perhaps, be anything very unreasonable. It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion
--Adam Smith, "The Wealth of Nations"
Yeah it sucks when taxes go back to their actual level so we can fund idiotic wars certain rich individuals and corporations backed because they knew they wouldn't be going.
How does this make you any richer. Why is it fair that those who spent all that time and money on college should pay a higher percentage than anyone else. They are getting payed what they have worked for. Life Is Not Fair, Grow Up
I don't expect it to benefit me at all - I expect it to benefit some friends and family though...
I never said life was fair - so why don't you grow up yourself...
Obama is doing the right thing by reversing some of the 'favor the rich, screw the others' policies of Dubya...
this class envy and victimization is a troubling trend.
your point that taking rich people's money and giving it to someone else "just because" is probably the saddest thing I've read in a long time
you've decided that the rich remain rich and the poor remain poor -- and that right there is absolute nonsense
How totally predictable..
I was wondering how long before the 'class envy' card was played.
Funny, when the huge income distribution from the middle-class to the rich took place under Dubya, no one talked about classy envy...
Why does the right wing always talk about the 'entitlement mentality' whenever someone proposes legislation aimed at benefitting the poor and middle class?
Why does the right wing always use the old 'class envy' argument anytime anyone proposes taking away some of the lavish benefits that the rich enjoy???
I know that Sean Hannity uses the 'Class Envy' phrase quite a bit - so I imagine you have been Hannitized?
It's already there. Do you know what percentage of taxes the "rich" pay?
Do you know what an absolutely disproportionate share of the Income the rich enjoy???
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