How many here would be happy if the Congress raised taxes on people who make over $1 million?

I would.

People who make more than $1 million annually -- and some people who make dozens of times that much -- have seen their top marginal income tax rate decline from nearly 90 percent, back in the 1950s under the Republican Eisenhower administration, to only 35 percent under George W. Bush.

Meanwhile the percentage of the total national income going to the top 1% of the population has skyrocketed. The fraction of the total national wealth going to the richest people has gone ballistic - rising even faster than the change in yearly income.

Falling rates of income tax on the richest people haven't caused ALL of this change, it's important to remember.

The loss of US industrial jobs to overseas "outsourcing" and the decline of labor union strength in the USA also have helped the already rich to grab the lion's share of our national wealth. Meanwhile, the rest of us have either stagnated or lost ground economically.

But while the slashing of top income tax rates -- mostly by Republicans, but also by some "moderate" Democrats -- hasn't caused all of our economic problems since 1970, it has caused a huge fraction of them.

Meanwhile, of course, the yearly federal budget deficit -- and more importantly, the total size of the US national debt -- have increased mightily as the government's revenue has fallen in response to the tax cuts.

So yeah - if we want to achieve a better balance between the rich and everyone else in the US -- if we want to preserve the middle class -- and if we want to do anything real about the national debt; then top marginal tax rates on the wealthy need to rise.

It's a start, but frankly, I'm not real thrilled about it. The majority of income for those in the upper 1% comes from dividends and capital gains. Very little of what they get is earned income. Now, if we make a minimum tax as Warren Buffett suggested of 35% on those with incomes over $10 million, we might get somewhere. This other is just a drop in the bucket.

it receives patched this 12 months. possibly not in time to end the printing of the varieties. the rationalization it would not get fastened completely? because the Dems see that pot of money and they salivate over what puppy initiatives they could do with it. imagine of each of the middle type people they can provide health care too? imagine of each of the social courses? they basically have not theory-about a fashion to make it palatable to us yet. they keep patching it till they do. The second greatest reason they don't quite prefer to fix it completely? it really is because the AMT sticks it to the wealthy, probably those earning 50k or extra.

I'd be happy if Congress and BO spent $1 MORE than they take in next year.

I'll make up the difference

as long as EVERY DIME went to debt/deficit reduction, no problem. Trouble is, Obama and the other idiot loon anti American liberals will just use it to spend on their pet projects. And clueless, ignorant Left wingers, like the ones on here, will cheer them as they spend

Ecstatic!

Nuf sed.

Our country has a spending problem and a lack of revenue problem, neither of which will be negated by tax increases on "the wealthy."

It's all smoke and mirrors. And oh, revenge.

LOOK-UP (TIM WISE) ON THE INTERNET, HE WILL ENLIGHTEN YOU ABOUT THE SITUATION IN AMERICA.

www.timwise.org/tag/white-privilege -

I'd be happier if it were anything over $100,000.