Massive progressive tax increase on the over $250k earners.

[.... callchet ....]

Why does nobody get this. That is where the money went over the last 30 years. Here and the rest of the world. The upward flow of money has to start

paying for its free ride. Any stimulus without a massive tax increase just puts the money back in the hands of the reason for the collapse. Give the

money back to the people that use it to live.

Do most of the people on DU make over $250k ?

[ShortnFiery]

1. Uh ... NO!

:shrug:

[geckosfeet]

2. Good idea for a poll,,,, does anyone remeber having seen one?

I can't believe that it has never been done here.

[ShortnFiery]

5. Make sure it's qualified with "at present" because there's a number of people who think they will

in their future. Perhaps the American Dream is still alive?

[.... callchet ....]

9. I should have put taxable income.

[CANDO]

13. "The American Dream"

It is not to become insanely rich without regard to it's harmful affects on our society. The American Dream is to earn a living wage and be able to put a decent roof over your head and send your kid to college and to retire with dignity and a little comfort. The right has succeeded in getting people to think they are just a schmuck if they aren't rich, and that becoming rich is the goal for living The American Dream.

[MannyGoldstein]

3. Under Eisenhower, Wealthiest Americans Paid 50% In Federal Taxes

Today they pay around 18% - but the Middle Class pays > 30%

Man, are we dumb!

[havocmom]

17. and unions covered more workers too.... Oh, and we were doin pretty well

Those overpaid executives ate the goose that laid the golden eggs when they set about destroying collective bargaining and shoved all workers down the pay-scale.

[closeupready]

4. I have always gotten this. Unfortunately for Americans, most of their Senators make over 250k

so no such legislation is going to go anywhere (and see how eager Geithner and Daschle and others are about paying the taxes they DO owe). I've come to realize that a progressive tax scheme is going to have to happen gradually, not overnight.

[ShortnFiery]

6. What is "A Senator's" base salary? I had the impression that it's more like $175,000

[closeupready]

10. Though count investment income, speaking fees, and there you are.

And most of them have net assets of over $1,000,000.

[closeupready]

11. I was wrong - average net worth of $1.7 million

http://www.opensecrets.org/news/2008/10/as-economic-storm-brewed-congr.html:

WASHINGTON -- An economic recession is looking increasingly likely, but the personal finances of members of Congress suggest they will be able to withstand the slowdown far better than most Americans, according to a new analysis of lawmakers' latest personal financial reports by the nonpartisan Center for Responsive Politics.

U.S. senators had a median net worth of approximately $1.7 million in 2007, the most recent year for which their financial data is available, and 62 percent of the Senate's members could be considered millionaires. In the House of Representatives, the median net worth was about $684,000, with 39 percent of members having net worths estimated to be at least $1 million. By contrast, only about 1 percent of all American adults can be considered millionaires. Growth between 2006 and 2007 was still a healthy 13 percent, despite indications last year that the economy was headed south.

"Worries about the economy that most members of Congress are feeling right now are likely coming from their constituents, who will head to the polls in less than three weeks," said Sheila Krumholz, executive director of the Center for Responsive Politics. "For the majority of lawmakers, the pressure they are feeling wouldn't appear to be coming from their personal finances. With a median net worth of $746,000, most members of Congress have a comfortable financial cushion to ride out any recession."

Before the American economy showed signs in 2007 of slowing down, lawmakers had enjoyed an extraordinary run in their personal investments and other finances. Members of Congress, who are now paid about $169,000 annually, saw their net worths soar 61 percent from 2004 to 2007, on average.

[terisan]

14. May 15 the new Congressional financial statements are due-will they show losses

or will they have bucked the trend and have stayed even or increased their net worths?

[closeupready]

15. To take a wild guess, they will be half as bad off as a typical American.

That is, for example, the Down Jones is down about what, 40% from its peak, so they will be 20% worse off, on average, than before the crash.

[terisan]

16. Thanks for the guess. I am thinking considerably more well off. Should be interesting to see the

filings. There may be more opacity in the reports also.

[.... callchet ....]

8. Apologize for person in my grammar.

Using we to mean USA, I don't know how to write selectively .

[Skink]

7. We probably wouldn't even lose votes.

[NNN0LHI]

12. Just the Joe the plumbers who think they will be King Farouk some day

Like when they hit the lottery.

Don