Read what you just posted :"The uneemployment rate will EVENTUALLY go down but Not for a few years". Unlike every other recession we've had.
Rachel Madcow is as vicious and factually challenged as they come. As is Ann Coulter for that matter. She is no more entitled to her own set of facts as you, me or anyone else. She specializes in factually delinquent personal attacks. I am obviously not alone in my distaste for her style and methods. Her ratings indicate that nobody else likes her either.
Just to prove that my disgust is NOT based on ideology, I have a lot more respect for economists like Robert Reich and Jared Bernstein than I do for a little asswipe like Krugman or a bitch like Madcow. They do NOT try to have their own numbers like Krugman does. They do not launch personal attacks at people they disagree with like Krugman and Madcow. I have just as much disgust for a right wing factually challenged bitch like Ann Coulter and Sarah Palin is an ignorant ditz afaic.
Whether you like them or not, the numbers are there for everyone to read. When Reagan left office, tax revenue had almost DOUBLED. In 2006, we had record tax revenues. Likewise, we had budget SURPLUSES AFTER Clinton cut taxes. After he cut taxes revenues went UP ! Btw, Krugman has been caught using faulty numbers and data so many times that even his Nobel Prize is screaming at his intellectual dishonesty. Be VERY careful using any facts or figures from anything he is remotely asssociated with.
As I pointed out, in the 1950's we had a top marginal tax rate of 91%. We also had three recessions. Our rich were less wealthy then than now. It is also instructive to distinguish between the wealthy and EARNERS. The wealthy have wealth. Earners create it. Nonetheless, I have repeatedly agreed with you that BOTH the wealthy and the highest earners do NOT pay their fair share of taxes. Even though the highest earners pay 50% of the income tax. That's why I oppose perpetual trusts that shelter wealth from taxation literally into perpetuity. That's why I want a flat tax with no deductions and no credits. The main reason I want a flat tax has nothing to do with fairness or class envy. It is to promote rational allocations of wealth and money and thus generate economic growth. Without shelters, everyone has an incentive to maximize earnings. If I make $100,000 and pay 30% after an exemption of $30,000 and you make $1 million and pay 30% after the same exemption, who is paying more in taxes ? Who is actually paying a higher percentage of his income ? You are. In both cases. I'm paying $21,000 and you are paying $291,000. On both a gross and percentage basis you are paying more.
As I've repeatedly pointed out, that is NOT what we have now. I, and many other six figure earners, pay a much higher percentage of our income than the uber-rich. There are children and grandchildren of the uber wealthy who have NEVER worked a day in their lives and never will, yet have seven figure lifestyles on which they pay no taxes except for sales and real estate levies. I know, I used to work protecting them as they limo'd and clubbed around NYC. Fortunately, some enjoyed spending Daddy and Grandpa's money ( and Mommy and Grandma's too ) in places like PEC and Scores but I digress. Wouldn't you like to see them have to pay a reasonable portion of their income in taxes ? Do you have any idea how many trillions, yes TRILLIONS, are sheltered in perpetual trusts ? On top of everything else, these trusts are not economically healthy. The whole point of the Rule Against Perpetuities was to promote buying and selling of property, by assuring and REQUIRING that at some point, somebody would be able to sell. Sales which, inter alia, could be taxed. Not anymore. Starting in the 1980's, states started competing with each other to get perpetual trust wealth and business by abolishing their respective Rules against Perpetuities. It also avoids estate taxes which as you know, I support.
We didn't recover from 1929 and in fact had a double dip in 1933 and a triple dip in 1938 thanks to GOVERNMENT policy. As I have repeatedly explained. We recovered from the 1981-2 recession thanks to Reagan's tax cuts.. We are NOT recovering now thanks to Obama's policies. It's much too far along for him or you to try to blame it all on Bush.




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