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The Truth About Taxes
“Here are three reasons why taxes have to be raised on the richest Americans: 1. We have budget deficits. If the rich don't pay their fair share than the rest of us will either have to do with less Medicare and Medicaid, fewer public investments, infrastructure and education. Or we will have to pay even more in taxes to make up for what the rich do not pay. 2. Top tax rate is at historic lows. Because so much of their income is in the form of capital gains, the very wealthy pay far less. 3. The rich can afford to pay more. The wealthy are taking home a larger share of total income than they have in 80 years.”
This article was originally posted on Robert Reich's blog.