Should Democrats fight to let tax cuts for the rich expire?
Despite differing opinions, the rich receive greater benefit from government than do the poor. We fight wars to open trade, we fund airports that cater to business class patrons, we subsidize the ports and rails and infrastructure that allows people like Bill Gates, Steve Forbes and Bernie Madoff to become rich. We bail out big banks, insurance firms and auto companies while those in upper positions continue to get bonuses. We make our foreign policy conform to the business requirements of major firms. People who live off inherited wealth pay a capital gains tax of 15 percent while working people pay a payroll tax 5 points higher. The rich itemize their taxes and thereby reduce their burden by deduction losses (even at the casino) and tax credits in a number of areas where middle class folks have no access. Taxes are onerous. No one likes them. So let’s at least make them affordable. People who own 80 percent to 90 percent of all assets should pay 80 percent to 90 percent of all taxes.
