Even better, we should add a top rate of 50 percent on income above $1 million, as advocated by Netflix CEO Reed Hastings among others.
People for whom $1 million and above is an annual paycheck should pay more so people for whom $1 million is an unattainable lifetime fortune don't have to.
If we don't start taxing the wealthy more now, then you can be sure that the mountain of debt created by tax cuts and bailouts will be used to drive "entitlement reform." Workers' last forms of security -- Social Security and Medicare -- will be on the chopping block to pay for the wreck the truly entitled made of our economy.
Copyright 2009 Holly Sklar
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