I'll actually give you a point on that one. I'm sympathetic to the argument that if too few people feel they have a stake in paying for government programs you create too strong an incentive for a majority to pass them. I think you've seen that dynamic at work -- along with other pathological ones -- in voter approval of big spending / tax cutting initiatives in CA and similar states like Oregon.
However, the way that's been manifesting itself at the federal level is not through higher taxes on the rich. The income tax system soaked the rich way more back in the balanced budget, low services era of the 1950s than it does today. At the federal level it's been carried out through deficit spending, on or off budget, and that I think is a big problem. Especially since the rich too can imagine that they aren't on the hook for the deficits. To quote a wealthy guy, former CEO of Haliburton and former Vice-President: "Deficits don't matter".
Current Events » in reply to So let me get this straight...
re: So let me get this straight...
The whole thread (34 posts)
- Who's paying the Federal income taxes
- The Rich STILL Pay at a Lower Rate than the Rest of Us.
- My uncle makes $144,000.00 gross/year...
- Luke 12:48
- The right way to look at this....
- Oh what tangled webs we weave...
- Please cite the source of reproduced material. (n/t)