In this post at Working-class Perspectives, the blog of of the Center for Working-class Studies at Youngstown state Universtiy, author Jack Metzgar demonstrates how taxing the rich can pay for everything.
Taxing Only the Rich CAN Pay for Everything
It’s time for everybody who wants to say anything about “Obamacare” and taxes to tell the rest of us their income class. I live in one of the 13.5 million households with a six-figure income between $100,000 and $200,000. I could afford to give back the annual $2,500 tax cut George Bush gave me in 2001 and 2003, but our current president has pledged that he won’t allow my taxes to increase by a single dime.
I thought this was foolish and unfair when candidate Obama promised it, but now I understand why he put himself in this trick box. My income class serves as a sort of buffer zone to protect the working class from being attacked with taxes on their health insurance and soda pop. The only way to ever have a discussion about what to do about our rapidly growing income inequality is to leave us, the vast majority of middle-class professionals, harmless.
Read the whole post here...