Revenue

Pushing Obama from the Left

— Brian Miller
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Mike Lillis writes in The Hill about the challenge President Obama faces as he attempts to play to the center while appeasing ever-rowdier and more extremist Republicans. As he gets ready to unveil his deficit reduction proposal, he risks alienating his base, who if uninspired, may not contribute to his re-election campaign and instead stay home in November 2012.

While early reports indicate that Obama may include some good things in his proposal, such as ending some of the tax breaks for the wealthy and reducing military spending as part of his deficit reduction plan, other questions still remain. How strong will those proposals be? And will he include deep Medicare and Medicaid cuts?

Proposals to Tax Wealth Like Work

— Brian Miller
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Our current tax system rewards wealth over work by taxing capital gains and dividend income at a much lower rate than salaries and wages. UFE is calling for the restoration of the tax rates on capital gains and dividends to the same rate applied to income earned from work. Various proposals have been put forth to move in that direction.

Fair Taxation Means More Brackets Up Top

— Maz
OtherWords - Tax the Wealthy cartoon

Some of the most affluent Americans actually pay lower effective tax rates than many middle class Americans.

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