Sunday, November 28, 2010
taxes & deficits
Dave Johnson of the Campaign for America's Future has a tax plan. Here are just the main features of it. They all get fleshed out at the link. Catfood (Deficit) commissioners -- are you taking notes?
1) Restore pre-Reagan top tax rates. We didn't have massive deficits until we reduced the top tax rates. (Note: Johnson is in error here; the deficit created by World War II dwarfs anything that came after up to and including the present. It was paid down over time, however.)
2) Income is income. No more reduced capital gains tax rate.
3) Income is income. Inheritance income should be taxed as income, except there should be a "democracy cap."
4) Businesses...shouldn't be able to...operate out of P.O. boxes in Bermuda or the Cayman Islands (in order to avoid taxes).
That's a pretty good start. If we instituted those measures tomorrow along with ending all our various wars over there in all those various -Stans, our troubles would soon be over.
Graffiti by Banksy. Click on the image to read the whole message.