Tuesday, February 22, 2011
Here are some interesting charts and graphs on wealth disparity in the United States. Do you guys think the top 1 % has been especially productive and innovative while everyone else has lagged behind, or is their immense concentration of wealth due to our current tax code? It's likely both, but I think this could get a good conversation going.
On the taxing issue, how does everyone feel about the Bush Tax Cuts, or just increasing taxes on the rich? I think that these charts show a necessity for more progressive taxation, but that seemed to be a political impossibility when this debate last happened in 2010 (Dems proposed keeping cuts for everyone under $250,000, and then under $1,000,000, but Republicans were having none of it, which led to a 2 yr extension of all cuts.)
Last thing, does our society have a moral responsibility to raise taxes on the wealthy rather than cut programs that the poor depend on? Even if your a conservative Republican, increasing taxes on people who make $250,000, $1,000,000 or more should make more sense than a lot of the GOP's proposed spending cuts. These tax increases would also do a lot more to reduce the deficit.