Over 100 hundred millionaires have signed a petition to have more money taken out of their taxes, trying to start a movement to get all the rich who are getting tax cuts from Bush's failed economic policies to pay their fair share. Theres only one problem. The Republicans in office absolutely refuse to even entertain the idea. This is madness. Are they so jaded in their love for the rich and all the benefits that go with it that they won't even read the letter?
In a letter to Senator Orrin Hatch, not only did he crush the idea, but told them if they wanted to pay more taxes, to do so. They have a box to check if you want to pay additonal taxes. But it can't just be a few hundred people paying their fair share. All of the top-two percent of the rich have to pay their fair share for it to have any effect. This is part of the letter that was signed by these patriotic people who only want to help this country get back on it's feet finacially:
Why do the conservative Republicans want to keep the tax base as is, and if they can, make Bush's tax cuts permanent. Because most of their big donors are from big banks and Wall Street. From companies such as GE, who do not pay any taxes on the billions they make in this country. There are 412 Americans who have incomes over $1 billion. I've seen some, the Gates, the Buffetts and others who are urging Congress to change the tax code so they "can" pay more taxes.
Sen. Hatch fails to realize that there are only 375,000 Americans with income over $1,00,000. If they would adjust the tax codes to a reasonable rate, it would take all these millionaires to fix this ecoonomy. Not just the hundred or so who signed this petition. Beatween 1979 and 2007, incomes for the weathiest 1% of Americans rose by 281%. Does anyone think the poor and middle classe incomes rose this high? Of course not, and it is a shame that this nation needs to remedy.
Sen. Hatch did tax the rich when he first came into office. In 1963 millioniares' top marginal tax rate was 91%. In 1976 it dropped to 70% and since then it has kept falling to where today millionaires only pay 35%. According to the Congressional Budget Office, that even Senator Hatch would have to concede is bi-partisan, reducing the income on top earners is the most inefficient way to grow the economy.
Yet time and time again, they argue that Ronald Reagan's Trickle Down Theory is the only way to reduce the dificit. Time and time again this has been proven wrong. Reagan left office with the largest deficit in history at that time. When Bill Clinton left, George Bush had a budget surplus that he turned into the largest budget deficit this country had ever known. What did he leave President Obama? Two wars and a nation in a depression almost as bad as the Great Depression in the 1920s, 30s and 40s.
Uninformed people are voting in conservatives who want to cut entitlements that are beneficial to them. Republican governors are trying to do away with the unions that made the middle class in this country. The rich want to do away with the middle class and in place have a nation where the poor will be on their own, without Medicare, Medicaid and if they can arrange it, even without Social Security for people under forty years of age.
This country is at a crossroads, and what happens in the next two years will decide the future. We can only hope that people wake-up and pull the blinders from their eyes and see the conservatives for what they are. Rich and determined to stay that way!
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