Hello Kacper,
Could cap the amount of gains eligible for special treatment. Could force employers to create portable investment accounts as part of payroll. The justification for the special treatment of long term gains is that the money is often already taxed and it is being retaxed without indexing for inflation. Eliminate them and you will see growing demands for eliminating the corporate taxes on dividends.
Taxing the rich more will generate more revenue. Same income, higher tax, more revenue. The government needs more revenue. Revenue is insufficient to meet expenditures. The entire deficit is added onto the debt each year.
We've got a big country, getting bigger all the time. More people, more spending, bigger economy. Our government must grow to keep up with that. And consider; our government has grown constantly throughout our history. As our government has grown, so has our economy. Everything we have now, our whole country, our giant government that tries to be everything to everyone, all our people, everything we've built; all of it, it all happened as we let government grow to the size it is today. Big government has not hurt us. I honestly don't know what the problem is for the right. My taxes are about as low as I can remember. So are everybody's. The rich have had their taxes cut to a THIRD of what they once were. We've got it good.
We've got it good and part of the problem is we have it a little too good. We have not paid in as much as we have spent. We are short. So we need to cover that. We have to pay for yesterday's bills. We can't blow this off. It's our collective debt. We, the people, are responsible for that debt. It's all ours. Nobody else's.
The only possible time we can begin to pay that down is when our economy is doing well. We certainly can't do it during a recession.
The trust that the world has in the United States, our 'credit,' is on the line. And this is important, because world approval of the USA has been falling. We have to pay down our debt. We have to make good on our word.
Hello.
Does any of this make any sense.
Now is the time to tax the rich more, and now is the time for them to pay for the great country which has favored them so well.
Uncle Sam is proud to be the economic playground of our most advantaged citizens. But Uncle Sam needs a little help. Surely these fine people can do what it takes. Really, they are the only ones who could afford to do it without crashing the economy. And we need the economy to pay for what we've spent. So it's got to be the rich. We've got to tax the rich more. Just simple logic. Sorry, rich people. We know it won't hurt you that much. We know you have so much money that your lifestyle will not be affected the least by the required level of taxation. And just think of the awesome sense of accomplishment of being part of the wise ones who gave what they could for their nation, if not their lives, some of their money. (We know some people think the money is more important.)
The math works. We can tax the rich enough to begin paying down the debt.
We could all pay a little bit more tax. But the rich need to haul the heaviest part of the load. It's the only way to shore up world trust in the USA, something it sorely needs about now.