It is time the Dems propose a tax hike on the wealthiest 5% to balance the budget

[kratos12]

Repukes use class warfare on a daily basis they call it "family values" or "the culture war", they do this to divide people within the same socioeconomic strata by emphasizing differences in our cultural attitudes. These divisions are largely manufactured or made to seem far more important than they truly are but are increasingly effective in causing large swaths of the American electorate to vote against their own economic self interest.

They do this well, and they do it on a daily basis, and their purpose is to create and sustain generational attitudes about the parties.

It's time we that we used the same tactics except aim them at remindng people of the economic divisons that actually do exist and actually do hurt them and their families.

I propose that the Dems do this by advocating a relatively small tax increase(in addition to allowing the Bush cuts to sunset )on households that make 500K plus annually. The tax should be something like 2-3% a percentage that will be percieved as small by the public and marketed as a "luxury" or "wealth" tax. In addition the tax should also be targeted to "reduce the defict" and this should be tied to the the fact that during the "decade of deficts" the wealthy have been the only sector of our society to increase their slice of the American pie.

This needs to be a sustained and coordinated effort by progressives, Republicans need to be forced to speak and vote against the proposal and be painted as the errand boys of the elite. Only a long and sustained effort will effect the same kind of generational attitude change that the Republicans have been so succesful in creating vis a vis the cultural wars.

[Grand Taurean]

1. Bring the capital gains tax back to 40%.

15% is a pittance considering that the money comes from trading, and not producing.

[cutlassmama]

2. Sounds like an excellent plan. Athough when I mentioned it on here the other

day someone told me to pull my head out of my ass. :hurts:

[Oregone]

3. Its time for a lot of stuff. You're going to have to take a number and have a seat

But I warn you, we are closing soon

[Auggie]

4. They'll be raising their own taxes, you know n/t

[fascisthunter]

5. They work for the rich... it's not going to happen

not with today's democrats.

[progressoid]

9. Work for the rich. Hell, they ARE the rich.

Here's a list of the members who had the highest average net worth last year:

Senate

1 John Kerry (D-Mass.)........$336,224,883

2 Herb Kohl (D-Wis.)........$241,545,513

3 Edward M. Kennedy (D-Mass.)........$103,560,020

4 Jay Rockefeller (D-W.Va.)........$93,715,011

5 Frank Lautenberg (D-N.J.)........$89,509,099

6 Dianne Feinstein (D-Calif.)........$84,171,162

7 Gordon Smith (R-Ore.)........$46,127,014

8 Olympia Snowe (R-Maine)........$33,308,537

9 Claire McCaskill (D-Mo.)........$32,428,089

10 Elizabeth Dole (R-N.C.)........$31,421,472

House of Representatives

1 Jane Harman (D-Calif.)........$397,412,077

2 Darrell Issa (R-Calif.)........$343,457,521

3 Robin Hayes (R-N.C.)........$173,409,173

4 Vern Buchanan (R-Fla.)........$165,748,714

5 Michael McCaul (R-Texas)........$64,073,077

6 Nancy Pelosi (D-Calif.)........$62,468,047

7 Carolyn Maloney (D-N.Y.)........$50,297,547

8 Rodney Frelinghuysen (R-N.J.)........$47,350,092

9 Nita Lowey (D-N.Y.)........$43,716,445

10 Gary Miller (R-Calif.)........$39,978,021

[xchrom]

6. Recommend

[Mojambo]

Past time. Waaaaaaaaay past time. n/t

[napi21]

7. That may work, but I'd also like to suggest eliminating all or

at least most of the loopholes. That's actually what JFK did and was quite successful with it. He actually lowered the rate on the top earners, but eliminated most of the loopholes thereby forcing most of them to actually PAY more in taxes per year. It was a clever trick which actually raised the taxes on those high earners, but at the same time demonstrated a lower tax rate.

In the years since JFK a lot of those & new kiiioosholes are applicable again. 35% rate on the highest earners is not too low except nobody PAYS 35%!

[Change Happens]

8. President already has a 4.6% on the table effective 1/1/2011!!!

It is done bro...

[tabbycat31]

10. how about a small tax on stock trade transactions

like maybe a penny for ever $100 along with a tax on the rich.

And when are the Bush tax cuts going to expire

[MindandSoul]

11. Yes, but let's REALLY raise the tax on the top 1 % (let's say. . .to 65%!)

Did you read the new article about the "change" in billionaires status over the last year???? Almost all of them have gain an additional "few" billions over the last year (including Gates who is worth an additional 14 billions. . .and is now worth 53 billions!. . .but, poor Gates is no longer the "richest" man on earth. . .that record is now in the hands of a Mexican Tycoon who is worth 53.5 billions!
The trick, you see, is that the "wealth" is nor really taxed. . .only the "interests" on wealth!