Saturday, July 21, 2012

99 for 93

The top 1% gained 93% of the income gains in the 2010 recovery. You can read about that here, here or here. The republican leadership complains that taxing the rich at a higher rate amounts to class warfare, but they are the high ranking soldiers conducting an economic war against the vast majority of Americans.

It is time to begin a new offensive in the class war. The 99% will now call for a 93% tax rate to be imposed on the top 1%. If they want class warfare, let's give it to them.

A 93% tax rate on the richest 1% may seem unreasonably high, but if we review history we find that the top marginal tax rate was 90% or higher for more than a decade and 70% or higher for more than 40 years.

We all know that we won't get all we ask for, but this might help to educate people to some of the facts of history that remain lost to so many.

I just learned that there is a National Taxpayer Union.

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