A 'trigger' tax on the superwealthy..

[Union Yes]

If our federal "defense" budget creates a federal budget deficit then an automatic 'trigger' will raise taxes on the superwealthy to balance said budget.

Pass this into law and say goodbye to war.

Next..

[midnight]

1. K&R.

[Sherman A1]

2. +1

[old mark]

3. I thought for a minute we could pay a fee to shoot them, kind of like

a hunting season on the rich....

Another fantasy, I guess.

mark

[Union Yes]

4. Your idea warrants consideration too! =)

[old mark]

5. I'll bet we'd get a lot of takers - help pay down the Republican debt......nt

[aquart]

6. Hold it. Contractors have to count.

[chimpymustgo]

7. K & R.

[Union Yes]

8. Kick

[Igel]

9. How do you know if the defense budget creates the deficit?

Any deficit is assumed to be defense related? Or only when the defense budget increases--or increases faster than inflation?

So if there's a balanced budget (ok, stop laughing) and then there's a recession--what do we do? Cut government spending? Raise taxes? (Both of these were deemed anti-American freepery last spring when all government spending was judged stimulative.) Then when revenues increase, do we hold spending flat until revenues catch up to where they were and reduce the superwealthy tax back to zero, or keep it--only to increase it again later?

And by "superwealthy" do you mean in terms of wealth or income? That's the rub, the reason that many superwealthy don't pay large amounts of taxes: We tax income, not wealth. (Except for property tax.)

[rucky]

10. Roll back the Bush tax cuts AND cut defense spending. n/t