The cons know they will be exposed as scamers when the millionaire tax cuts expire. Then everyone will know that the con economic ideology is a fake, designed to turn America into a banana republic that gives everything to the rich, and makes peasants out of the rest of the country. When the tax cuts for millionaires goes back to 39.6%, everyone will find out that the economy doesn't collapse, it doesn't destroy jobs, but in fact creates them, because the filthy rich have to invest more money to make more money, instead of getting government welfare. When welfare for the rich ends on Dec. 31st, everyone will realize that this country is once again for the people, and not for corporate business at the expense of future generations. When the tax cuts for the rich ends, and America begins to prosper again, the cons will be finished.
From the end of ww2 to 1980, the top tax rate in the US varied between 90% and 70%, and the US economy was a global powerhouse. Then Reagan showed up, with his voodoo economics, slashed the top tax rates, and started the US on the road to the poorhouse. Today, we have the spectacle of these so-called job creators whining about a top tax rate of 40%.
Amen. I think (considering all that the U.S.A is), it should be reasonably easy to find a job that can make one a living; but as long as we accommodate and coddle greed, while revering avarice... the average, hard working person will be used-up like a dirty rag and ultimately tossed out. I'm not against capitalism (I like to create and sell things too)... but any form of ANY "ism" which dehumanizes rather than edifies human beings in general, ought to be rejected by good and/or reasonable people.
http://en.wikipedia.org/wiki/File:Federal_receipts_by_Source_Historical_1950-2010.jpg This chart shows exactly what's wrong. Look at the percentage of revenue that the government collects from corporate income tax since Reagan. It's scandalous.
Far be it from me to preach to those who already know it all, but with higher taxes comes higher prices. Taxing the rich only makes the extra cost of doing business to get added to the product or service. It will reduce the number of manufacturing companies that could have opened in the USA but would rather do business elsewhere. You only think you are beating the rich through taxation when it is the middle class that will pay that burden. Spanking the monkey? Why not come out and admit you are screwing yourself.
Surprisingly, raising taxes actually reduces revenue as doing so increases tax evasion enough to counter the higher taxes. If we want to get more revenue we need to make it harder to avoid taxes. However right now we should be slowly reducing taxes, which will lower tax evasion and raise more money. http://www.youtube.com/watch?v=bvqNVs4ix6E
The rich are smarter than the tax collectors. There is a reason why the tax code is so long and complicated. Can you tell me why that is, and why a president doesn't just set the phonebook-tax-code ablaze and write it all on one sheet of paper? 90% tax on the wealthy is mythology. Zeus and Poseidon and Medusa.
