I just can’t find a newer version of this beyond 2004, but it sure tells the story well.
Here’s the deal. Obama goes into the Tax debate asking for the following:
A 30% tax on capital gains. This is part of what is called UNEARNED INCOME. Meaning the money was gamed rather than worked for. This tax would have little affect on the vast majority of Americans who invest and stick with their investments. But more importantly it would slow down the seesaw game of playing the market. Doubling it from 15% would make most think twice about buying and selling because a hurricane may or may not be coming or Steve Jobs is sick. The market would rise and fall in relation to worth rather than bullcrap. Hell, even babies are trading in their cribs! Example: Facebook’s worth is $65 billion, it has no product and employees only 2500 people.
Raise the tax bracket from the 3% of the Bush cuts to 10%. And not on a million or $250K, but on income over $125K.
Add another 25% surtax on the tax paid by those who make over a million until the debt is paid.Make the cut off for paying the Estate tax on anything over a million. Small business and farms are already exempt.
Remove all the tax gimmicks that allow corporations to pay nothing. Though they complain their tax bracket is 30%, we all know NO ONE pays their tax bracket.
There is the starting point for the Administration to begin the debate. Now play the game that the Republicans play. All that with no compromise whatsoever, at all, ever, no matter what. And if anyone does not like it, they can get on Ron and Rand Paul’s boat and move off to the Libertarian paradise of Somalia.
One more point. The Republican Party is the party of JOB DESTRUCTION. That is a fact. The very purpose of both small business and large corporations is to reduce or eliminate their highest cost, LABOR. So they move jobs offshore, replace workers with automation and robots, and do everything possible to destroy unions so those left in the workplace not only have to do the work of 2 or 3 workers at less pay, but get no health insurance or pension. In fact because of this the only good secure jobs anymore are in local, state
and federal government. Which the Republican Party is working hard to eliminate as many as they can.
We are the least taxed nation in the civilized world with so little safety net left, that food stamps and fixed length unemployment comp are about all people have to survive on any longer. The GOP wants to eliminate both of those too.
The Republicans get away with it all because they have mastered the Rupert Murdock model. Keep everyone busy being all upset with bad Negroes, illegal Mexicans, terrorist Muslims, Lindsay Lohan, Casey Anthony and Charlie Sheen. And it works so well there is little hope.