A SIMPLE SOLUTION TO DEBT

An easy solution to the debt crisis! Too bad our government exists to keep the rich and corporations richer and not rep the people so this is out of the question and not even being discussed!

FROM THINKPROGRESS.COM:

If Corporations And The Rich Paid Taxes At The Same Level As The 1960s, The Debt Would Disappear



As congressional negotiators continue to debate the contents of a deficit reduction package, discussions are reportedly tilting toward a deal that will include spending cuts but no revenue increases.

Over at the Campaign for America’s Future, the Institute for Policy Studies’ (IPS) Sam Pizzigati notes that one way to very easily tackle U.S. debt going forward would be to increase taxes on corporations and the wealthy to levels more closely matching mid-20th century rates. Pizzigati cites an IPS paper from last spring to make the argument that if corporations and households making more than $1 million paid the same rates as they did in 1961, our debt would virtually disappear in a decade:

MORE: THINKPROGRESS.COM