This should be the question for the next several decades, why in the hell are we giving any Tax cuts to the Rich when so many are out of work, homeless, and hungry!
Taxes on the very rich are lower than they've been in 80 years, lower than any modern country. This is the key to our debt and spending problems! Tax cuts for the rich are bankrupting the U.S.
This Vote is to Tax The Rich in 2012 !
Tax cuts for the very wealthy have mortgaged this country's future. You pay more than they do. It is you or your children who will pay. Declare our freedom. Vote for tax rates on the rich as high as the rich paid from 1935 to 1982, when America was strong: those were 5 times current rates.
The solution to current economic problems is clear - as Nobel Prize winners Krugman and Stiglitz have pointed out continually. Fiscal stimulus (spending on creating jobs) is the only way out of this mess in any sort of reasonable time frame and without creating more damage and instability. There is no need to increase government debt to create a stimulus. Taxes on the ultra-wealthy can simply be put back at the rates that prevailed from 1935 to 1981, which will provide much more revenue than needed to do reasonable stimulus (such as by rehiring the teachers, firefighters, janitors and police that that States and cities have laid off, and building roads, rail and bridges that will create future economic growth). The US should require other OECD countries to engage in similar stimulus as a condition or our doing so. Without fiscal stimulus, the Fed and other central banks are left with tools that are simply pushing on a string (because in a depression, interest rates are already zero). Their keeping the rates at zero has not worsened the situation - long term rates are already low because deflation threatens.
Someone is always going to be taxed. Deficits and debt are taxes that will come due to you and your children. Cuts to Social Security and Medicare are taxes to you. If we don't vote for taxes on the ultra-rich, you will pay more taxes, fees and costs. Look at the facts and figures in the charts below. The simple fact is that every dollar that the ultra-rich are not taxed will be paid by you are your children, now and in the future. The tax-cut money that the rich have received in the last 30 years is locked up in their hands or being spent on investments in China and Vietnam. It needs to be taxed and spent again in America on educating our children and on American infrastructure.
Require your candidates to pledge this before you vote or contribute:
"In order to solve the debt of America, and to make investments in America's future, I will vote to tax the top 3% of income earners at the same rate as they were taxed during the Eisenhower, Kennedy, Johnson, Nixon and Ford Administrations, when America was strong! I will not vote to cut spending until the ultra- wealthy pay the same taxes as they did in 1941-1980."
The one promise Obama made in 2008 is that he would not allow the Bush tax cuts for the wealthy to be extended. But in 2010, he blinked. He went back on his promise, even though the Bush tax cuts would have ended on their own. He must hear this time that we've had enough of welfare-for-the-rich.
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kennymotown
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