ext_45258 ([identity profile] jackshoegazer.livejournal.com) wrote in [personal profile] jackshoegazer 2008-09-14 09:20 pm (UTC)

If you look at other countries, Denmark for instance, the richest people are always taxed heaviest and they don't really complain. In Denmark, the top 1% of wage earners and corporations pay 71% in taxes. In America, the top 1% pay on 15% in taxes and McCain wants to cut that down to 11%. Everyone in Denmark who makes less than $200,000 pays less than we in America do and they can afford to send every citizen to college for free and they have universal heath care and tons of other social programs. There is no reason that we can't do that, and in fact, we did until Regan come along. Regan cut corporate taxes from 40-something% (if I am remembering right, it was a huge cut) down to the 15% that it is now. We suddenly went from a creditor nation, loaning money to other people, to one of the largest debtor nations in the world, suddenly racking up a massive $200 billion deficit. If we restored tax rates to a similarly structured system, reintroduced tariffs for imported goods and gave tax breaks to companies that kept jobs in the United States instead of rewarding companies that ship jobs overseas, we could easily provide the same level of social support to every citizen in our country that Denmark and similar countries do.

Post a comment in response:

This account has disabled anonymous posting.
If you don't have an account you can create one now.
HTML doesn't work in the subject.
More info about formatting