US wealth gap putting the squeeze on state revenue

[yallerdawg]

5. It makes sense.

As the rich pocket our wages, they are reducing our taxable income and reducing payroll taxes. Then, they lobby Congress to make their income at lower tax rates, sheltered as non-income at lower rates or just move it off-shore. Then they just gamble (or fix) the stock market, more non-income.

This is our argument for progressive taxation. At some income level, the tax rate should encourage income distribution to the laborers and discourage personal greed. In the 1950's as high as 90%?

Known by Republicans as government-mandated 'redistribution of wealth' and 'socialism.'

Known by Democrats as 'fair and equitable pay,' and, yes, 'socialism!'