The Kool-aid And The Right-wing Propaganda - Page 3
Thom Hartmann wrote in his book, Rebooting American Dream:
We need to remind people that it was not that long ago when we had the rich paying top marginal tax rates of 70 percent (at the start of the Reagan years); and if we want to go further back, we used to have top marginal tax rates above 90 percent in the Eisenhower years. Our current tax rates and the anti tax fever are the result of relentless right-wing propaganda that began during the so-called Reagan revolution and has continued ever since.
If we really want our country to recover its financial footing, we must roll back the Reagan tax cuts that took the top marginal rate from above 70 percent down into the 30 percent range. To stop the “casino economy” that always emerges when the very highest-income people are allowed to keep whatever they can get, regardless of how they got it (so long as it’s legal), there has to be a collective notion of “how rich is too rich for society to afford” and income above that rate is taxed at the old 70 to 90 percent rate.”
Well, I trust, Thom gave a very good basis to define rich, what do you think?