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Summary: Robert Reich outlines three reasons taxes must be raised on the richest Americans, how 'trickle down' economics is bunk and the middle class are the real job creators.

Why Taxes Have to Be Raised on the Rich

Robert Reich, Robert Reich's Blog

14 June 12 your social media marketing partner


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+8 # Capn Canard 2012-06-14 08:57
To me it is real simple:
Q) Why should taxes be raised on the rich?
A) because they can afford to pay taxes.

High taxes hurts the poor and middle class far more than the Rich, hell the Rich aren't effected by high taxes because they aren't getting foreclosed on their houses, they can buy enough food, theey can easily pay for healthcare and they don't have to worry about a disappearing pension of living on a SS check.
+3 # brux 2012-06-14 23:05
I love Robert Reich. the simple clarity of what he says and writes about it elegant and constant!

The rich have not paid their fair share for 30 years … and they are counting on the country never being able to be made up for it or rectify this staggering injustice that has been rammed down our throats.

I look forward to his essays and videos every day and wish Americans would start to see the logic here and just open their minds to considering what he says.
+2 # BobM 2012-06-16 09:28
What Reich proposes is, at best, a temporary solution. Once the wealthy are done buying their yachts and limos and prostitutes they will always spend their cash on corrupting the political system so that they can steal more money from us through lower taxes and bigger benefits for themselves. The only way to end this charade is to end capitalism - the economic system based on greed.
+1 # Evolouie 2012-06-16 10:48
I disagree, there is nothing wrong with capitalism or greed for that matter. As long as we have regulations and labor unions to keep capitalism in check and high enough taxes to keep greed in check.

There in is the problem.
-3 # BobM 2012-06-16 11:01
When does capitalism become NOT-Capitalism? The things you propose - regulations and unions and taxes - all hamper free market capitalism.

Maybe I want the same things you want. But lots more!
0 # JJS 2012-08-30 04:17
I agree we need more regulation and effective oversight.
0 # carolharveysf 2012-08-09 20:35
+1 # Bea1 2012-06-16 17:10
Not only do taxes have to be raised in the rich because they can can afford it because they have to even out the tax laws. We need to control the way the rich are able to evade paying taxes. The corporations escape paying taxes through loopholes that they put into place. I'm willing to pay taxes as long as they pay the services we get, decent wages. We need teachers, firefighters, sanitation workers, etc. I will not pay for war, the military budget, etc. or anything I can't chose to pay for.
+2 # RMDC 2012-06-17 06:51
It isn't even about raising taxes on the rich. It taxing them at all. Most corporations and billionaires are able to move money around the world and avoid taxes altogether. There's a simple solution to this -- simply ban all operation in the US when a corporation avoids taxes. So the message to GE would be -- no more US sales if you don't pay US taxes.

The tax rate on capital gains or investment income is 15%. The taxes on wages are 35% (top rate). How can that be fair? Why should a worker pay more than 2x the tax rate of someone who makes "unerned" income. The value of an investment goes up; the holder of the investment does nothing other than take the profits.

Commissions on derivatives are by law investment income and are taxes at 15%.

The fact is that that the rich pay very, very little tax in the US or in most nations. And they are consuming every greater percentages of the world's GDP. If nations do not figure out how to tax them, all the benefits of civil society (schools, road, water treatment, airports, fire departments, etc) will vanish. the poor cannot pay for everything.
0 # nemonia 2012-08-19 18:06
These tax laws and loopholes will never get fixed until the lobby and campaign laws are fixed. All but a few of the people in congress are whores. Term limits seem like the only way.