Sunday, April 15, 2012

The "nickel and dime" politics of the GOP

Do Americans want to preserve tax entitlements for privileged Americans or start a rebirth of a dynamic middle class?

Do we want the affluent to pay lower tax rates than middle calls Americans in capital gains and deferred interest?

Can we continue to tolerate CEOs making 400 times what he average worker makes? Do we need to make income tax and Social Security FICA tax  more progressive?

What about Estate Tax? Bush suspended and when restored, the estates of 50,000 millionaires were exempted.

Then there is corporate tax. At one time corporations provided 30 per cent of federal revenues, but it is now 6 per cent because of offshore tax breaks in Ireland and the Netherlands.

Many Americans fail to realize that the tax burden has been ever shifted to the middle calls by the "nickel and dime" politics of the GOP over three decades. Taxes have been shifted away form c-corporations and the affluent.

This has weakened the middle class. As one business owner put it, the tax refund at the end of the year is nice, but it won't help if you don't have customers.

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