Steve Hochstadt: One obvious conclusion is that high, even very high tax rates on the wealthiest taxpayers do not impede economic growth.
Robert Reich: All flat-tax proposals benefit the rich more than the poor for one simple reason: Today’s tax code is still at least moderately progressive. The rich usually pay a higher percent of their incomes in income taxes than do the poor. A flat tax would eliminate that slight progressivity.
Robert Reich: Simple fairness requires three things: More tax brackets at the top, higher rates in each bracket, and the treatment of all sources of income (capital gains included) exactly the same.
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.
Ann Robertson and Bill Leumer: The only alternative available to working people that offers real prospects for success are mass mobilizations in the streets and strikes – the kind of militant struggles that scored so many gains in the 1930s.
Tom Degan: The debt that the United States has incurred in the last ten years is now at a level where it’s probably insurmountable. The only solution (and that’s assuming there is a viable solution) will involve taxes – decades of serious taxation.
In a shocking display of yellow journalism that would make William Randolph Hearst blush, the San Francisco Chronicle and Los Angeles Times both slapped on their front pages last Thursday a complete non-story in California tax law.