Or ....

[Scuba]

[spartan61]

1. This all makes such good sense.

Are the congress critters so dense that they can't figure this out or are they afraid of losing their "supporters" with the big bucks if they support this? Obviously they don't care anything about the American people, only their next election or what kind of job they will get after leaving congress for greener pastures. To many of them, Congress is only a stepping stone for their next career.

[truebluegreen]

2. K&R! Bookmarking for future use.

[eqfan592]

3. And how about any attempt to gouge consumers with massive price hikes while still earning insane...

...profits in spite of the new taxes will be dealt with as treason!

Might be a bit extreme, but damn it all, you KNOW that is EXACTLY what these greedy bastards are going to do if/when they finally start getting taxed as they should!!!

[Prophet 451]

4. It's on the right lines

I only have three quibbles. Firstly, I'd just eliminate teh Social Security wage cap entirely. That would make SS solvent forever. Secondly, I'd institute a new top tax rate of 50% on household incomes above $2.5 million. Thirdly, I'd virtually eliminate capital gains tax. By which, I mean getting rid of teh system that treats it differently to other sources of income. I'd keep teh lower rate for the money you get from selling your home (and carefully word the law to prevent abuse of that) and treat everything else as income, subject to income tax.