A very sobering piece by Tim Dickinson, concerning how even the old-school republicans (including Reagan) understand that the rich have to pay more taxes in order for the economy and government to work. He highlights the brazen stupidity that pervades the party today, even to the chagrin of its members who can still think logically. And worse, how corporate America finds it gets more bang for its buck by investing in Washington rather in what should be doing, like R&D and new and better products.
By Tim Dickinson
November 9, 2011 7:00 AM ET
The nation is still recovering from a crushing recession that sent unemployment hovering above nine percent for two straight years. The president, mindful of soaring deficits, is pushing bold action to shore up the nation’s balance sheet. Cloaking himself in the language of class warfare, he calls on a hostile Congress to end wasteful tax breaks for the rich. “We’re going to close the unproductive tax loopholes that allow some of the truly wealthy to avoid paying their fair share,” he thunders to a crowd in Georgia. Such tax loopholes, he adds, “sometimes made it possible for millionaires to pay nothing, while a bus driver was paying 10 percent of his salary – and that’s crazy.”