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Politics : View from the Center and Left

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To: wonk who wrote (149429)	11/10/2010 10:18:06 AM
From: KyrosL	Read Replies (1) of 541986

Let's also point out that the top 10% have a cutoff point well below Obama's $250K threshold for households and $200K for individuals. In fact according to Wikipedia: en.wikipedia.org you have to get down to $80K to reach the top 10% for individuals. So, Paul's observation is valid. You must raise substantially not just the ultra wealthy tax rates, but also middle class tax rates to get rid of the deficit strictly via taxation. You can also impose wealth taxes, by, for example, severely limiting the amount of money the wealthy can deduct from their estates by creating or donating to foundations.

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