A Progressive Tax Plan?
Posted on | August 28, 2008
It will come as no surprise that Sen. McCain is running on a promise to cut taxes, despite the biggest federal budget deficit in history–nor is it news that he wants to give the biggest tax cuts to wealthy families. What gives me hope is Sen. Obama’s plan to shift the tax burden upward, increasing tax rates on annual incomes over US$600,000. The rest of us, from upper-middle class to our poorest, will be seeing income tax rates unchanged or reduced.
I repeatedly point out that Sen. Obama isn’t a liberal, but this proposed minor redistribution of wealth is. It recognizes that being wealthy in America is an incredible privilege that ought to be taxed more heavily. A Democratic White House should bring us a little relief, at least, from the non-stop corporate piracy of the last couple of decades. This tax plan represents an investment in us.
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