Reply #9: That's exactly why the New Deal worked [View All]

[Warpy]

It scraped off the insane income at the top to the tune of 90% and circulated it back down at the bottom where it would keep moving and do some good.

Kennedy drove the first nail into the coffin of the New Deal when he lowered that top marginal rate. I don't think he quite realized just how much that benefited the plutocrats and how it would enable them to start to rise again, buying media and Congress along the way to finish the job.

We have to have the will to scrape it off the top again if we're ever to have anything resembling a democracy, let alone a decent economy with opportunity for all of us.