Greg Sargent writes at the Plumline:
If anything, that position is made worse by the new study’s finding [that increasing income inequality is driven by the shift of wealthy peoples' income from wages to dividends and capital gains]. After all, Republicans are openly conceding the sequester will damage our national security, even as they refuse to avert it by agreeing to the closing of loopholes benefiting the wealthy — even though this would likely be part of a deal in which they got more in spending cuts than they’d be conceding in new revenues! As the new study shows, those benefiting from GOP opposition to any new revenues are doing extremely well indeed — lending more ammo to the Democratic argument that Republicans would sooner damage our military and economy than ask for a penny in new revenues from the very rich.
You can find the study to which he refers here.
2 comments:
Republicans would sooner damage our military and economy than ask for a penny in new revenues from the very rich.
Wait, didn't the top marginal income tax rate just go up? If so, doesn't that count as more than a few pennies in new revenues from the very rich? Meanwhile, the notion that either national security or the economy will be imperiled from $44 billion in cuts this fiscal year -- 1.2% of federal spending and 0.3% of GDP -- is fairly ridiculous.
Your beef is with Sargent.
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