Tuesday, January 10, 2012

Reckless Indifference

This lengthy chart reveals much about what powerful Republicans think of the rest of us. A quick look below at the tax proposals of the Republican presidential candidates reveals just how willing they are to exacerbate inequality.

It should be apparent that each proposal overwhelmingly benefits those already wealthy and will have little positive impact on millions of struggling families. It should be equally obvious that these tax proposals will make the deficit much worse.

None of the candidates has any intention of reimplementing the tax structures of the past that helped create the middle class, provided for solid growth, paid for defense-and wars-with taxes, and managed to balance the budget, or come very close to it.

There is only one major difference between now and earlier in the post-war period, up to the 1980s, and it isn't government spending. The difference is that 30+ years of tax cuts for the wealthy, starting with Ronald Reagan, have shielded the very wealthy from the taxes they used to pay. That has created a two-fold tax structure: the middle and working class are asked to pay more, and the budget shortfalls, dramatically larger than in the past, end up as government debt, picked up by China and other trading partners.

The current set of proposals only worsens the trend. Every detail is a giveaway to America's richest.

Tax Proposals by CertifiedTaxCoach.org
Tax Proposals Infographic by: Certified Tax Coach

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