A coalition of over a dozen progressive advocacy groups launched a nationwide "Tax the Rich" campaign Wednesday with the goal of building a grassroots movement to unrig the tax code and make wealthy Americans pay their fair share.
‘Behind every great fortune there is a great crime.’ (Balzac)
It’s time to take back what the wealthy criminals stole from us.
Damn good reason to tax the crap out of them - Then eat them
interesting though - I wonder if this applies to Religious Organizations?
I hope folks don’t have too much hope in the rich passing a bill to tax themselves.
There are not many. A few have more economic means than half the world. Recently, a wally world scion sold $700,000,000+ shares in a stock buy back scheme. I’ll bet she intends to pay her back taxes … oh, forgot to mention, she is one of the primary funders of the lobbyist pushing for NO estate taxes.
Making the rich poorer is not the answer, making the poor richer is what is required.
Nice BS reply. When I was a kid Robin Hood was a popular hero. Eisenhower tax rates were over 90% on the rich. It’s sad how things can slowly go downhill and so many hardly notice or care enough to truly complain.
Bravo, Upthepeople, as in making the poor richer … By equalizing incomes greatly … because NO hardworking adult deserves any less than the ability to live well from their toils, and NO ONE should need to work above forty hours a week to live, as was formerly established until attackers succeeded in wearing down such protections. One could argue rightly that doing undesirable hard work deserves far more income than perceived in this backwards, uncivilized society. To achieve this balance then the undeserving wealthy do need to become poorer, though none need be poor!
The result of allowing corporate money in politics and having a long campaign season to spend it and more.
Just how do we make the wealthy pay their fair share when they own the place?
Taxes on the wealthy and big corporations are a running joke around the world. So is our bloated inefficient military with its obscene budget. Raising taxes, a lot, on the wealth will improve the economy and spur action to restore infrastructure and universal healthcare. Along with that an aggressive progressive tax structure will restore some of the balance lost over the last 50 years or so.
Make the rich thieves pay back corporate and individual back taxes effective all the way to 1981. I can only imagine what we could do with those trillions, tens of trillions of dollars.
Gradually my friend, a year at a time just as they have been heating the pot for us gradually since 1980
Don’t forget subsidies for oil, gas and mega corporate farmers since family owned farms are a thing of the past
So, the rich consume massive amounts of resources and generate most pollutants, but poor people then consume more and produce more direct and indirect pollutants? Do you have another plant to draw resources from? Know of another sink for wastes? We already have an environmental crisis, so how do we maintain the current consumption of the rich and have everyone else consume more, pollute more and not speed up environmental collapse?
And what about the economy increasingly being dominated by rentier income, monopolistic rent, inheritance, profits in the FIRE sector (making profits off of debt and the creation of private money)? What about power dynamics? Bezos did not earn all his billions. That wouldn’t be possible. He sits atop an institution, and at the top of the institution, rich people like him benefit from the fact that workers are paid far lower wages than the value that they produce with their labor? The greater the gap between the value workers produce and their wages, the greater the surplus that goes to people like Bezos, which has happened. The data shows this. You give me the logical reason why we shouldn’t address any of this.
If it’s the same person , she is also a drunk
You may be ignorant. While the masses have no money there’s nothing to power the economy no matter how high the tax rate. You learned the wrong lesson from the Ike years: it was strong unions causing a more fair distribution of the wealth produced by the efforts of workers that kept a middle class thriving. There’s nothing Robin Hoodish about a worker being entitled to more of what he produces than the bankers holding the mortgage on his shop.
How does a higher tax rate fix any of the problems you assert my position fails to address?
What are you going to do with the resources you extract from the wealthy besides pay the national debt owed to the wealthy?
A higher top marginal income tax rate and a small annual wealth tax would not make the rich poorer…they would continue to grow richer, but just at a slower pace than otherwise.
Per Pikkety and Gluckman, the wealth of the wealthiest 0.1% has grown at about 6% compounded since 1980 and they now hold over $20 trillion in wealth…about 125,000 households averaging $160 million each which is more than the bottom 90% of households combined. Their share of total wealth held has tripled from 7% in 1980 to 22% today.
Making the rich poorer is not the answer
Sure it is. As @MonkesTale correctly points out. Things were much better for everyone in this country when the top marginal tax rate was over 90%. Things deteriorated in proportion to the decline of that tax rate.