By Keith R. Schmitz
The McCain campaign along with Empress of the North Sarah Palin have been whipping up their mobs by labelling Barack Obama's tax plan as socialist. This is of course in lieu of a real program for America part of their brilliant strategy of balling up every handful of mud they can get their hands on and lobbing it out to voters. This is what desperation smells like.
According to this article by Steven Coll on the New Yorker site, the Obama "socialistic" tax plan would soak the rich to the tune of $45,000 per every million in income.
$45,000? Socialism can do better than that.
Sykes and all the rest of the rightie blogs like to treat you like rubes by talking about percentages, but we don't take percentages to the grocery story, send percentages to our mortgage company or use percentages to put your kids through college. That's cash.
We can do math while many around Wasilla are doing meth. Using the 38% at the top bracket, that million in income leaves $620,000, pretty much the after tax income of roughly thirty families.
Throw in the nick this income takes in property taxes and state taxes, plus that $45,000, there is still room for that Mercedes and to cover Sarah Palin's wardrobe.
Still, there will be screaming that government does nothing, so why should anybody pay for it? But there was one thing that has to be dealt with -- the tax cuts on the wealthy which have put us into hock to the Chinese and that did very little solid to juice the economy.
That has to be paid for. Any ideas who can do it?