Ya'know; I have to say something here with respect to this "redistribution of wealth" nonsense. It's propoganda, and bad propoganda at that. Raising taxes on the wealthy is the same thing that a company does when they want to cut your pay. Why does a company cut your pay? (This where political ideologies switch places): This country; "the company" can not afford to operate at such a deficit any longer; we're going under!
Raising taxes on the wealthy is taking their tax rate back up to where it was before Ronald Reagan; which was a rate of 70% or more. Starting with his first year, Reagan cut the taxes of the welathy in this country by some 40% during his term
Historical Top Tax Rate
During this country's peak production years: the 1950s, when the standard of living was the highest in the world; for the middle class in particular, the tax rate of the wealthy in this country was a steady 91 & 92%. As the source shows, the tax rate for the rich goes into a steady decline from then on. As the middle class began to disappear, the rate of the 1%
under Nixon . . . starts todrops exponentially, and in the course of only one generation, it drops to 35%.
We've had recession after recession since then, and under modern conservative / Libertarian economics, the 1% didn't do anything to "save the country". In fact, they sent money out of this country to increase returns and actract more money. With the money they made, we should all be on easy street by now, right? I man; we were all working for it! But, "
the 1% create all the jobs, right? . . . As the middle class has taken hit after hit, and the population goes up and up, and the services required to manage a country of 300 million steadliy goes up; the taxes of the brilliant and "super powered" 1% should go
down?? Nahh, I don't think that makes sense: it's not good business. The 1% takes advantage of and qualifies for any the services of federal government provides; up to and including military protection: that's happened a couple of times as I recall . . . So, why is it some sort of "redistribution" to demand that they pull their own weight? remembering of course that although their tax rate is currently 35%, the 1% have access to lawyers and loopholes and write offs that ensure that they don't pay 35%.
So, I think that the whole "1% creates all the jobs and this is just wealth redistribution, (as though it were some sort of socialist concept), is just BS. Reality says otherwise.