Interesting thread...

It didn't used to be like that of course. Tax rates as high as 90% on some high earners paved the way for social security, the fabulous 50's and programs like medicare and medicaid.

The founders wrote extensively about the "good of the commons" being of utmost importance. Jefferson especially disliked the notions of corporations and felt they would do society great harm if left unchecked.

So, the richest got taxed the heaviest and for a long time, things worked out pretty well. Then we get to the early 80's, deregulation, trickle down economics and the Laffer Curve foolishness and slashed tax rates. US Corporatacracy has left its ugly marks all over the world while things seem to be turning for the worse here in the US. Poverty is increasing, our personal savings rates have been very poor compared to other countries and let's not forget our debt and lack of an effective health care system.

That's a liberal, somewhat progressive viewpoint. A conservative would say that the founders never intended...not for a second...to take so much wealth from one class and redistribute it to another. People are, for the most part, where they deserve to be.

Jefferson was quite afraid of the USA becoming a class based society, not too different from the land they'd all left.

If Nigel felt compelled to relocate this discussion to the Bar, I'd buy the first round...




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Bill in Dayton

[This message has been edited by Bill in Dayton (edited 11-30-2010).]