As I’ve noted before I fully expect for Senate Dems to cave when the fit hits the shan, but the sentiment here is right.
The resolution offered by Senate Majority Leader Harry Reid (D-Nev.) on Thursday asks lawmakers to sign off on a “Sense of the Senate” that “any agreement to wealthier taxpayers should reduce the budget deficit should require that those earning $1,000,000 or more per year make a more meaningful contribution to the deficit reduction effort.”
The measure comes as Democrats argue tax breaks for businesses and the wealthy should be eliminated to help close the deficit. Republicans say such tax increases would hurt the economy.
Reid’s bill, S. 1323, is entitled “Sense of the Senate on Shared Sacrifice.”
It makes a series of findings that set up an argument for why wealthier people should pay more taxes to reduce the deficit.
The very rich have it amazingly easy in America. There is nothing wrong about bringing what they pay in taxes back to what it was in the past. We seem to have done quite well during the economic booms of the 1990s and 1940s, the supposed onerous taxes on the Paris Hilton set didn’t seem to inhibit the great economic engine of America from generating wealth.
Conservatives insist that an increase in taxation on the uber-wealthy would be some sort of shackles on the nation. But reality says otherwise.
From a political point of view, the Democrats would be wise to note that there’s already one party in America that nakedly does the bidding of the robber barons, they don’t need to help.