Wednesday, October 10, 2012
It's a new hot link!
In
the article, Top Senate Democrat pushes tax hikes on wealthy, Charles Shumer,
the No. 3 Democrat in the Senate, feels we should cut the traditional tax
reform model that is being used by Mitt Romney and some other democrats. Also
trying to replicate the same tax reform of the 1986 effort by President Ronald
Regan would end with increasing the tax for the middle class destroying any
recent rise in income inequality. Thus we should raise the tax rate on the
wealthy. But in order to do this and
have the middle class remain with the same tax rates the government will have
to raise enough money to both reduce rates and the deficit, then cut deductions
and credits. But they would have to cut it at a far greater scale than in 1986.
Right now it is unclear about how this would play in the debate. Including that
this approach is unpopular with most republicans. I feel this article is interesting
because if you have been in either the middle or lower class it has been hard
to live in comparison to the wealthy. So to be considered as equals we have to raise
their taxes so it can help
benefit or nation.
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