General Discussion
In reply to the discussion: In my opinion, Democrats are falling into a deadly trap. [View all]Chan790
(20,176 posts)We can't go from here to pre-Reagan, even if the middle-class accepted it was for their own good, the paycheck-shock would cause us to suffer a mass revolt at the ballot-box.
Go three steps:
1.) Return to Clinton-era rates.
2.) Reclassify Capital-gains as regular income. Say you're using the extra funds to pay down debt and shore up the economy. Throw a small corporate tax-cut into the mix so when the GOP balks you can attack to their base for elected officials opposing tax cuts and closing tax-loopholes that would allow us to balance the budget and pay down the debt.
3.) Slowly roll-back the Reagan cuts incrementally.
Hell, let's throw a in 4.) Raise the threshhold below which Americans pay no taxes. Doing so would be a massive stimulus that would put more money back into the economy. 1-3.) provide more than enough revenue to pay for it S/T and longer-term the stimulus of it would create more taxable income.
At the end of the day, we have more revenues in hand, a lower national debt and we've shackled the RW capitalists...they can either flee America or learn to pay their fair share.