Things to Tax By PAUL KRUGMAN

[dtotire]

Things to Tax
By PAUL KRUGMAN
Published: November 27, 2011


The supercommittee was a superdud — and we should be glad. Nonetheless, at some point we’ll have to rein in budget deficits. And when we do, here’s a thought: How about making increased revenue an important part of the deal?

And I don’t just mean a return to Clinton-era tax rates. Why should 1990s taxes be considered the outer limit of revenue collection? Think about it: The long-run budget outlook has darkened, which means that some hard choices must be made. Why should those choices only involve spending cuts? Why not also push some taxes above their levels in the 1990s?

Let me suggest two areas in which it would make a lot of sense to raise taxes in earnest, not just return them to pre-Bush levels: taxes on very high incomes and taxes on financial transactions.

About those high incomes: In my last column I suggested that the very rich, who have had huge income gains over the last 30 years, should pay more in taxes. I got many responses from readers, with a common theme being that this was silly, that even confiscatory taxes on the wealthy couldn’t possibly raise enough money to matter.


more:
http://www.nytimes.com/2011/11/28/opinion/krugman-things-to-tax.html?_r=1&hp

[G_j]

1. K&R

[Doctor_J]

2. And for the billionaires who run to Fox and threaten to move overseas

set up an internet fund from which they can apply for $2000 grants for moving expenses. Give then a slap on the back and tell them, "Please don't come back". There is no civilized country on earth with lower taxes on the hyper-wealthy than the US.

[yurbud]

5. if they threaten to move, simply take away their broadcast licenses, cable and satellite concessions

and let them go.

[Enthusiast]

8. Plus one! nt

[Doctor_J]

3. Let's set two dates to keep track of

1. When the first congressional Dem "leader" uses right-wing talking points to take tax hikes off the table (job-creators, uncertainty, punitive taxes, tax burden, yada, yada...)

2. When the president does

[Jello Biafra]

4. Maybe another date to keep track of is.....

when we get a Democratic President.

[Dont call me Shirley]

6. But the 1% worked hard to steal all their money, why should they pay taxes on it?

SARCASM!

[Enthusiast]

7. Kicked and recommended!

I'm with Krugman.

[populist3]

9. great article by krugman,