If the top 5% were surtaxed to pay for 3/7 of the bailout, why would the Dems need GOP support?

[brentspeak]

The Democrats would not have to fear anywhere near the kind of political fallout they're worrying about if they go with Bernie Sanders' proposal to impose a 5-year, 10% surtax on all couples earning over $1 million/year and all individuals earning over $500,000/year. That proposal would pay for $300 billion of the $700 billion. Put that in the proposed legislation, and all the Democrats would then have to do is to communicate it clearly enough to the American public.

Having the top 5% foot much of the bill for this bailout will not draw outrage from the voting public, to say the least. Instead, all the Democrats are doing right now is proposing all kinds of elaborate dubious schemes to avoid raising taxes on the wealthy.

:banghead:

[AllieB]

1. But it may kill their political donations for their next campaign.

[brentspeak]

4. All the political donations in the world will not bring back outraged voters (n/t)

[Lex]

2. I've been saying all along that it doesn't have to fall on our backs

to pay for this mess.

[PVnRT]

3. I'm hoping that's what is being said on the conference calls

I hope are taking place today amongst Democratic congresshumans. If they don't have a plan Thursday morning, they will be sorry. I guarentee you the Republicans will be ready to own the news cycle.

[yurbud]

5. even if bailout wasn't in play, we should have that surtax and call it ''Bush reparations''

[crickets]

6. "proposing all kinds of elaborate dubious schemes to avoid raising taxes on the wealthy"

Ding ding ding! It's infuriating. If they're really that worried about campaign donations, they could take a look at Obama's fundraising model to see how it's done grassroots style. Oh, wait, then they might actually have to represent the interests of the grassroots...

Never mind. :eyes:

[JackRiddler]

7. Surtax - Fine. Cash for trash? No way!

[Grey]

8. Have a look at the 'Tobin Tax' on google

and take the cap off of social security payments?

[Naturyl]

9. It's because the wealthy have brainwashed defenders everywhere.

The wealthy have succeeded in convincing a large number of ordinary Americans that they need to be more worried about being "fair" to the rich than being fair to themselves.