( – promoted by Sue Prent)
“What we have to remember is that the last three times the Democrats negotiated with the Republicans, in almost every instance, they gave the Republicans virtually everything that they wanted.” – Bernie Sanders
If only our entire delegation had the guts to tell the republicans to pound sand when it comes to inflicting austerity measures when there’s a simple solution to our problems:
- Raise the top marginal tax rate on the wealthiest 1% – many of whom, by the way, WANT their taxes raised!
- Raise the maximum income to which social security tax applies.
- Implement a tiny transaction fee for financial trades – which will both increase revenues and even out the stock and commodities market, reducing the insane, destabilizing market swings caused by speculative trading.
Billionaires Asking Congress to Raise Their Taxes, Nov. 16, 2011, photo source: CNN Money
[Edited to add formatting and the tid-bit about the billionaires who requested a tax increase yesterday.]
Peg Capital Gains tax rate to the highest income bracket rate.
If the top income earners in US are taxed at 38%, then Capital Gains taxes on stocks and securities would also be 38%.
Capital Gains MUST be taxed at the same rate as the highest income levels.
should be treated near equally.
there should be no reason why labor that breaks a person down physically is taxed at a higher rate than some digits and decimal points shifting and sliding around in the ether.
if we want to promote investment by giving a tax break to counter potential risk (for investing in say, stateside manufacturing, or infrastructure, or tech) – then devise a way that the longer your $$ stays in the system, the lower your rate goes. longer term investments have lower rates than short term.
and rates should all be calibrated so that money that makes money isn’t all the different than labor that makes money.
and better still – maybe make adjustments so that long term investment where your money creates labor, so that labor can create value – would have the most favorable rates.