Raise taxes on the rich to reduce our budget deficit
Rather than cut social security, medicare, medicaid, Congress should raise taxes on the rich since the highest marginal tax rate is only 33% and the capital gains tax is only 15%.
In the 1950s, the highest marginal tax rate was 91%. In the 1960s, when our economy boomed, the highest marginal tax rate was 75%. Since the trickle-down voodoo-economics of Ronald Reagan, our country began accumulating huge deficits, and continued to do so under George W. Bush. It is time to raise the highest marginal tax rate and the capital gains tax rate so that the wealthy in this country pay their fair share of taxes.
We ask Congress to raise taxes on the wealthy now! Raise the highest marginal tax rate to at least 39.6% and the capital gains tax rate to 25% now.
We ask Congress to raise taxes on the wealthy now! Raise the highest marginal tax rate to at least 39.6% and the capital gains tax rate to 25% now.
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