Archive for January 22nd, 2014

Ten Reasons for Raising Taxes on the rich;

1. Not only would the rich still be wealthy beyond most people’s wildest dreams, higher taxes mean they’d have less money to purchase politicians, such as Wall Street Senators Ron Wyden, Orrin Hatch and Mitch McConnell. In other words, there would be greater democracy for all of us, rather than plutocracy for the few, which is the current case in the United States.

2. That’s because the rich would have less money to buy legislation that redistributes income from the 99 to the 1 percent. That means the demand for goods and services would increase, job and income growth would accelerate, and the US economy would become strong again. However, decreasing taxes on the rich would accelerate the downward slide of the US economy for the reasons stated above and below, and which are supported by historical documentation.

3. They’d have less money to corrupt government with.

4. They’d have less money to leverage the financial markets to their advantage, and to the disadvantage of everybody else.

5. Eliminating the cap on social security taxes, which would raise taxes on the rich, would allow that program to continue indefinitely, but the rich would still be rich.

6. The rich would have less money to corner sectors of the futures markets, such as oil, wheat and natural gas, and which have resulted in increased prices for the rest of us.

7. The rich would pay higher federal taxes on their incomes, which would help to bring down the deficit, which from a conservative point-of-view (which really means “stupid point-of-view) would see a decline in the interest rates the rest of us pay for loans.

8. Higher taxes on the rich on the state and local levels would also see social safety nets strengthened and school finances increased. Conversely, lowering taxes on the rich have seen our social safety nets weakened and our school finances shredded.

9. Raising taxes on the rich would decrease the pressure the rich put on politicians to continue the endless wars the United States currently wages. Ending those wars, and ending the buying of 150,000 US mercenaries, would decrease the federal deficit.

10. The rich would have less money to mislead us with false studies and advertisements into believing such things as trickle down economics, free corporate trade is good, privatization saves the government money (it doesn’t), etc…. In other words, the brain washing of the rest of us would decrease.

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