We have all heard calls that the Occupy movement should have some specific demands. I don’t necessarily buy that argument, but perhaps the rest of us ought to have a specific demand for the Deficit Reduction Super Committee before they agree to something foolish.
We need to have five years of experience starting now with progressive taxation as practiced in the 1950s so that we will know if there needs to be any cuts in programs such as Social Security, Medicare, Medicaid, higher education support, infrastructure investment, and other societal investments. There should be absolutely no negotiations on the cut backs until we have this experience under our belts.
I don’t just mean tax rates and deductions. I mean a broader take on the subject of progressive taxation including inheritance taxes, wealth transfer from one generation to the next, and corporate repatriation of foreign profits to name just a few. For eight pages of details on what comes under the rubric of progressive taxation, read the article in my previous post, How the GOP Became the Party of the Rich.
Yes, of course the tax brackets and other specific numbers in the tax code need to be adjusted for inflation. Don’t nitpick the small details of the idea. Think of the broad concept. We can judge the details of what the Super Committee comes up with against the broad idea proposed here. First the Super Committee needs to know what we have in mind when we say compromise.
I first learned about this idea of taxation before cuts from a poster called island liberal. I published her or his statement in the previous post Call Kerry Now: Deficit Panel Seeks to Defer Details on Raising Taxes.
I find this idea so worthwhile that I am giving it its own post. That will make it show up in search engines better. It also gives a clean vehicle for others to share, tweet, like, and +1.
Especially for those who think the Occupy movement is not going to be effective, why not try promoting this idea without their help to see how far you get.