In November, by a 51%-47% margin, Americans expressed their will that President Obama’s plan to slowly reduce defense spending, raise marginal tax rates on upper income levels, and enact reforms in government health care spending that don’t involve access-limitation, is the plan we should move forward with. In the same election, Americans increased the influence of Democrats in the Senate, and voted as a majority for Democrats running for the House.
Wall Street types are the highest achievers in our brave new world, earning a wealth completely separated from the notion of value that most Americans embrace. They are defined as winners, and so are supported by the establishment as winners should be, with the support guaranteeing the continuance of the line. Wall Street types have become the new landed nobility in our proto-feudal America, with a core wealth earned by bold action, and a virtual hereditary wealth sustained by loaded politics.
In the fantasy world of the conservative hierarchy, folks making that kind of cheddar are “normal” and “productive”. Apparently, judging by their policy proposals, the GOP believes that couples earning $60,000 per year (like a cop and a schoolteacher, or a roofer and a clerk) are “unproductive” because they aren’t “job-creators”.
In the single year for which Mitt released his tax return, his effective rate was less than half the top marginal tax rate, and roughly the same as a working class family maxing out their available deductions. Given that information, either Mitt is blowing smoke about the need to lower taxes, or he needs to write a book telling all and sundry how to pay like a Romney.