Permalink for Comment #1376518079 by hdorne

, comment by hdorne
hdorne The 90% figure is pure fantasy, as is your scenario in which Sanders would somehow, with only presidential authority and legislative solidarity to help him, completely overhaul the tax code to impose such a high rate. Sanders has never indicated he would support such a rate. Nor is he a "socialist" in the demonized Chavez/Stalin/Pol Pot sense of the word. He's not opposed to a market economy, and neither am I. They are tremendously effective at driving productivity. He merely believes that things like healthcare and higher education should be rights of citizens, that wealth should not entail a separate set of privileges or be so extreme as to come at the expense of other people's ability to feed themselves. Most of the rest of the developed world manages this balance of capitalism and socialism without revolt. Extremes of wealth and poverty with a vanishing middle class contribute to societal unrest. As for corporate taxes, they accounted for 33% of all tax revenue (5.9% of GDP) in 1952 but only 10% (1.6% of GDP) in 2013. Despite the drop in tax revenue, corporate profits have never been higher. They are making more money and hiding more from taxation than ever before. The economy isn't in the dumps because corporations are taxed too heavily, it's because everyday people don't have the spending power necessary to drive up demand and stimulate economic activity.

I'm excited for summer tour, but I'll be couching it. We southerners got the shaft this year.


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