MTP, New Tax Brackets, Maybe Eventually, Protectionism?

[liberalmike27]

Wow, Lawrence O'Donnel actually mentioned the insanity of our tax system's brackets stopping at 200K, when we've got people making 15, or 100 million, or even 4 Billion. Some truth actually gets out on Meet the Press.

Now if we could just get them to actually cite the role of globalization as a policy to not be resisted, but encouraged, as a primary driver of debt. While I realize that tax cuts for the wealthy, or transfers really to the poor and middle class in various ways, are the real drivers of debt, clearly allowing the transfer of 25 million jobs over the last 32 years is a vast factor.

By my rough calculations, based on an income of 42,000 dollars a year, both SS/FICA taxes, federal income taxes, and state and local sales taxes, were we to still have those 25 million workers here in the US, we'd be collecting well over an half-Trillion. Add to that, we'd have been collecting it for decades too, so the debt would not be as large. Add to that, since the corresponding destruction of private unions, through exporting the union manufacturing jobs would not have occurred, so democrats would've had more power, thus we'd have had a necessary higher minimum wage, more likely in the $10-$15 an hour range, and higher salaries, and true, higher prices to match.

I guess what I'm saying is, in addition to the massive number of Americans not being unemployed, losing homes, not being able to pay existing bills on the home, we would not be having all of these city, county, and state budget problems, nor a federal debt/deficit problem. Finally, we wouldn't be paying over a Trillion dollars in interest (to who, the rich, yet another few percent to the rich in addition to their tax cuts).

No wonder they said debt doesn't matter.

[Ninga]

1. Larry can be a tough cookie...thank goodness for his voice. n/t