Hey, Tea Party morons and most other Republican supporters (and no small amount of independent voters, too)!
Do you want to know why people who earn $250,000 or more should be taxed at a higher rate (like the wealthy used to be in the early- and mid-20th century)?
First of all, they represent around 3% of the U.S. population, so they most certainly aren’t the bulk of hard-working Americans who have trouble making ends meet.
But you know what the real reason is?
The richest 1% of Americans now take home almost 24% of the income in the nation, up from around 9% of the income in 1976.
Yeah, do you still believe the myth launched by Ronald Reagan, and perpetuated by Republicans ever since, that if you let the wealthy keep more of their money, the whole nation will benefit?
If you do, you’re an idiot, as there is no clearer evidence of the fact that if you give them huge tax breaks so they can hang on to their excessive wealth, they don’t spread it around. Instead, they hoard even more of it.
Company executives get paid more and more outrageous salaries even though they don’t work THAT much harder than their employees (do you really think your company CEO works 40 to 100 times harder than you do? Get real). Companies won’t give workers raises that match or keep ahead of inflation, and take away more and more days off and more of their benefits, and make them pay more and more for health insurance…just so that they can keep making their top execs richer and richer.
Reagan’s trickle down theory DOES work.
But it isn’t money trickling down to all of us poor folks and us blue collar, pink collar and middle class professionals.
It’s the hot piss of the rich running down our backs as they laugh.