Other Things You Can Do with Rich People's Tax Dollars

On the heels of a State of the Union that promises to address income inequality and a broken tax system, National Journal reports on the Democratic plan to revive a surtax on annual incomes greater than a million dollars:

Democratic members of a conference committee working on a long-term extension of a payroll-tax holiday and other programs will urge a surtax on incomes of more than a million dollars a year to pay for the bill when talks officially start today, said Senate Majority Leader Harry Reid, D-Nev., on Tuesday.

It should be said that if Democrats are going to push a tax increase—even a popular one—they should aim to do a little more than just offset the cost of stimulus. Unemployment is still above 8 percent and the bond markets are happy to lend us money at historically low rates. Rather than offset the cost, we should just pay for the payroll-tax holiday with debt and use the funds raised by a millionaire’s tax to boost food stamps and unemployment insurance. Even better, we should just give people money and let them spend it.

Of course, at the moment, both policies are outside the realm of the possible. But it’s always worth noting that we could do so much more to help the economy but choose not to.

Comments

Once again, the question is really... Just whom is controlling the distribution of all this "wealth"... One surely cannot trust the Obama Agencies to distribute funds w/o selective biases, prejudices and pay backs.
The US Electorate, standing in the various Fed Dole lines understands this clearly.
Recc.
USE the anticipated High Income taxes to reduce the debt owed to China. Pay back the Social Security Trust funds raided over the past 25 years.
Use the anticipated High Income Taxes to fund directly w/o an agency interference, Community Technical Colleges, & State Contract Schools at every level.
Reduce the 99 week Unemployment to the original requirements of 3 or 4 months. End the Payroll tax moratorium.
THEN open the offshore drill rigs permits, sign off and start drilling.
Open the Canada Exl Pipe line, allow the econmic forces of actual work to proceed.
DE FUND the Fannie Mae, Fannie Macs and essetially call a moratorium on their operations.
IF the Leftist simply have to have a job, start a Infrastructure work program, re building and restoration of every US Park in the Nation. A week end of using a chain saw/axe in the forests of the West will muscle up the OWS wannabes.
Semper Fi

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