What planet do people live on? I'm afraid they've been drinking from the trough of Republican and Tea Party Kool Aid. In 1980, 20% of the country controlled 90% of the wealth. In 2011, 5% controls 0% of the wealth. And the Republicans want to talk about massive income redistribution! Secondly, unlike the intellectually dishonest argument made by the Republican House that "to raise taxes in a recession would be disastrous," the plan to raise taxes on the wealthiest Americans only to the levels they were at during the Clinton years wouldn't take place for another two years! Thirdly, to suggest a balanced budget for the Federal government is preposterous and shows a marked and facile understanding of economics. While it's true states have to balance their budgets, they don't have the externalities of Medicare, National Defense, roads etc. By the way, if the government hadn't bailed out the states and municipalities, we would have suffered a much deeper recession by laying off teachers, cops, firefighters, etc. Perhaps if your house catches fire or there's a terrorist attack, you'd be the first to complain that Homeland Security didn't stop the attack?
When the private sector isn't spending, the government has to step in or we arrive at a depression scenario where no spending is going on. I laugh at those who inveigh that we must keep taxes low on the rich to grow investment. Have you studied the returns of corporate America this quarter? The problem isn't funds. In fact, corporations are awash in cash. They're not hiring because they don't feel there'll be end users to purchase their goods. By the way, in 2011, CEO salaries have increased 23% while the average worker who still has a job has seen their wages increase by one half of one percent!!!!
I understand that the wealthy would invite any form of torture except to have a precious few extra percent of their alrady swollen incomes touched in any way,but this country has always had a prograssive taxation schedule.
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