General Discussion
In reply to the discussion: What progressive bedrock principles are sacrosanct to President Obama? [View all]pampango
(24,692 posts)on the 1%. I do not expect that a 4% increase in the effective income taxes paid by the 1% will impoverish any of them but it is progress.
Of course, Obama does not have control over sales taxes, property taxes and tuition. I agree that those regressive burdens on the middle class and poor have increased as progressive taxes have decreased. A return to progressive income taxation - which the increase on the 1% is a step towards - would allow those burdens to be eased.
Of course, removing ANY taxes on the poor and working poor and cutting sales and property taxes will require federal and local legislative action. It is certainly not likely to occur at the federal level with a republican congress. At the local level it would depend on progressive state taxes being raised or some kind of revenue sharing from the federal government to replace the revenue lost by local governments by reducing sales and property taxes.