Americans on the Bush Tax Cuts

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I wish the media would stop calling Dems like Nelson “centrist” He is extreme corporate right wing.
Calling Nelson a “centrist shows how very far this government has moved to the right. Of course “they” say American is a “center right” country….I say ask the people out of work or who've lost their homes if they'd like a little social help, instead of all the goodies going to the top 2%.

It's all just going to be nibbling around the edges, with a 2-5% difference here or there. Nothing will change the increasing acceleration of disparity in wealth in this country (and in Britain, Germany, France, etc.) until New-Deal-style (and Scandinavian-style) high marginal tax rates are re-instated (by the way, have you read that Finland is the “best nation on Earth to live”, wrt quality of life?). 90% marginal tax rates (on incomes above ~$xe6) for example. This is what it took to chase W.R. Hearst out of his castle (and back to one of his smaller Bel-Aire homes), and similar measures are needed again to put like resources being hoarded by the dissolute wealthy into productive use by the general society. (Queue foamy-mouthed outrage by the plutocratic-apologists in 3, 2, 1…). But before posting protests about “what incentive is there for one to work hard if one can't earn millions, or accumulate billions”, ponder what incentive there was between 1936 and 1961 to work hard and generally contribute when one couldn't (easily) accumulate millions or billions, and the U.S. became the economic powerhouse of the world, while restoring same from the ravages of two world wars. Amazing to think about isn't it? Without a billionaire in sight, this country did that, without going into debt, to boot, *and* at the same time built the greatest public infrastructure the world has ever seen. And since Ronnie Raygun began the rapid acceleration of the unraveling of the New Deal in 1980, what has this nation accomplished (aside from building more weapons than the world has ever seen, and accumulating more debt than the world has ever seen, while growing more billionaires than the world has ever seen)? And spare us the “won the cold war” which the Soviet block “lost,” we didn't win. (Don't think for a minute that the Pentagon *wanted* the cold war to end.)

But back to point, sorry: the correction of the problem is to institute a wealth tax. Abolish, if you will, personal income, VAT and business corporate taxes, but pay a *progressive* percentage of capital holdings each year (with careful regs on what goodies corporations can lavish on their execs as “business operations”). Don't tax earning, but do tax hoarding and owning.

And now… how about some outrage…?

Sorry but I must disagree. I am perfectly happy to pay my fair share of taxes (especially if my share is large) out of income.

Having been out of income for 4 years (no lack of work, but definite lack of income, and I am back to making a good income this year) I have come to appreciate paying based on income rather than losing yet more of a lifetime of savings to “wealth taxation” that's already under threat from the financial collapse.

A gentle and reasoned response.

But the purpose of the high marginal tax-rates of the New Deal, the Scandinavian countries, and the here-proposed Wealth Taxes (proposed by many, including Galbraith and Reich) is to prevent the accumulation of resources and power in the hands of a very select few. The results of such stratification are the likes of the financial collapse you're now suffering from, wherein the “movers and shakers” gamble with your lifetime savings. In this case, the bets went bad, the economy collapsed, you lost, but we the public made the gambler's (but not your) losses whole, all the while suffering from the bad economy.

The point of such tax systems is not to be onerous on the hard-working middle class, but to reverse, and prevent the gross wealth stratification that we're suffering from now – because inevitably in history such stratification has lead to the collapse of a civilization (which begins with the periodic collapse of the economy, i.e. ever more severe boom-bust cycles, with the upper echelons reaping ever more benefits on each side of each cycle).

Best wishes.

So I take it you don't enjoy living in Right Wing Country
Get the Frack out you communist, you and your kind are not entitled to anything.

Earn it the old fashion way and then I'll respect your kind.

You are existing under the illusion that anybody who doesn't like corporations taking over the whole world doesn't work for a living.

How myopic can you be, Snit?

You leave and go someplace hot why don't ya?

I agree with your second comment essentially completely. (I wonder how one would get back to a progressive tax rate policy? I have no idea where to begin…)

It was just the idea of taxing “wealth” without respect to its placement and purpose, that caused me a bit of concern. Neither my wife nor I would be able to start over if either inflationary or taxation policy caused further reductions in our savings, since we're both at middle age (and *very* grateful that we're even employed in this economy!)

I feel strongly (as it seems that you do) that there has been serious manipulation of the economic picture over the last 30-40 years, and have been caught mostly flat-footed. We have both studied our crafts assiduously and been productive all our lives (both of us at school and/or working since the age of 16).

I feel that we've discovered that while we were learning and practicing our respective crafts, the country has been at war against us. Being a software engineer, I experience the process thusly:

I brought a disk drive to a gunfight.

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