President Obama: Please Raise My Taxes!

obamas on staircase

Ted Vaill: The Bush tax cuts decreased the top personal income tax rate from 39.6% to 35%. A hypothetical millionaire who had $1,000,000 in adjusted gross income in each of the past 10 years benefitted by over $200,000. It is time for payback. Do it.

The Great Switch by the Super Rich

super-rich-wide

Robert Reich: Forty years ago, wealthy Americans financed the U.S. government mainly through their tax payments. Today wealthy Americans finance the government mainly by lending it money.

Why We Really Shouldn’t Keep the Bush Tax Cut for the Wealthy

wealthy tax cuts

Robert Reich: Restoring top earners’ marginal tax rates to what they were during the Clinton administration (36 and 39 percent) won’t inhibit their spending. That’s because they already save a large portion of what they earn, and already spend what they want to spend.

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