Plutocracy: If Corporations and the Rich Paid 1960s-Level Taxes, the Debt Would Vanish | | AlterNet

If corporations and households taking in $1 million or more in income each year were now paying taxes at the same annual rates as they did back in 1961, the IPS researchers found, the federal treasury would be collecting an additional $716 billion a year.

Plutocracy: If Corporations and the Rich Paid 1960s-Level Taxes, the Debt Would Vanish | | AlterNet

In other words, if the federal government started taxing the wealthy and their corporations at the same rates in effect a half-century ago, the federal debt to investors would almost totally vanish over the next decade.

[...]

Our political system is failing to tax the rich because the rich have fortunes large enough to buy off the political system. Again, some numbers can help us better visualize that plutocratic big picture. [I highly recommend you read the whole article.]

by Sam Pizzigati.

"Sam Pizzigati is the editor of the online weekly Too Much, and an associate fellow at the Institute for Policy Studies."

via Plutocracy: If Corporations and the Rich Paid 1960s-Level Taxes, the Debt Would Vanish | | AlterNet.

  • Subscribe
  • Tom Usher

    About Tom Usher

    Employment: 2008 - present, website developer and writer. 2015 - present, insurance broker. Education: Arizona State University, Bachelor of Science in Political Science. City University of Seattle, graduate studies in Public Administration. Volunteerism: 2007 - present, president of the Real Liberal Christian Church and Christian Commons Project.
    This entry was posted in Uncategorized. Bookmark the permalink.