Voodoo economics didn't work in the 80s, it isn't working now. It has been debunked and demonstrated false over and over again. Anyone who can't see that is deluding themselves. There is a direct correlation between the marginal tax rate on the rich and economic strength. That is: higher -> stronger. Obviously not up to 100%, but the economy was doing really well even when it was 91%.
Keeping the tax rates on the rich absurdly low is not helping the economy. It is suffocating the government at a time when the government needs to prop up the economy, and that's the real point.
Worse yet, why are our alt-weeklies, of all outlets, parroting the idea that tax increases are somehow controversial?
If a Reagan administration official can acknowledge the popularity of this proposal, I think the Mercury easily can too.
Meanwhile, where are the prosecutions of the bankers and traders responsible for the mortgage debacle?
Voodoo economics didn't work in the 80s, it isn't working now. It has been debunked and demonstrated false over and over again. Anyone who can't see that is deluding themselves. There is a direct correlation between the marginal tax rate on the rich and economic strength. That is: higher -> stronger. Obviously not up to 100%, but the economy was doing really well even when it was 91%.
Keeping the tax rates on the rich absurdly low is not helping the economy. It is suffocating the government at a time when the government needs to prop up the economy, and that's the real point.