Sunday, September 18, 2011

Millionaire Tax

Business Insider (hardly a hotbed of communism) eviscerates Republican arguments against President Obama Millionaire Tax.

The highest marginal tax rate was 50% during most of the sainted Ronald Reagan's reign. During the halcyon days of the 1950's that Tea Partiers look back to longingly the tax rate reached over 90%. While Obama has not been specific, I doubt he plans to reach those levels.

Still, be prepared for a cascade of whining from the GOP that taxing the wealthy a bit more than they pay now is unfair, class warfare, and will cause the Koch brothers to curl up into fetal position and poutingly go Galt.

1 comment:

Anonymous said...

Garrison Keillor got a laugh from this line:
skit, woman complaining that a stray golf ball has broken her windshield is told by Guy Noir that she shouldn't complain,
"those men on the golf course, they are job creators"

in my town, the 25 year old brewery now employs 60 directly: that's job creation!