Atrios: Udall and Bennet should be pushing to INCREASE Social Security and LOWER the Retirement Age

Is this a joke?

I'm assuming you are going to pay for this with tax increases on the rich. While i know that this idea is like crack to the liberal brain, I must point out that you forget that rich business owners would rather cut the salaries of the workers below them and raise prices than make less money which would put you back at square one.

Meanwhile our national debt would be piling up, ruing our credit rating and adding a bigger burden on future generations. Even your idol Paul Krugman probably does not think that in the long term debt should be rising as a percent of GDP like it has been doing.

And finally you talk about deficit reduction as if it hurts voters by taking away their goodies, but if you really want to give your grandchildren a great gift give them fiscal sustainability

And maybe lower taxes for all would make voters happier than wasteful government special interest programs for a few.

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by: Democat @ Mon Feb 04, 2013 at 14:11:58 PM UTC

your faith in the insatiable greed of our business leaders

is kinda scary.

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by: Zappatero @ Mon Feb 04, 2013 at 16:45:11 PM UTC

[ Parent ]

It's called capitalism

Even if these business owners and investors dip into their own salaries to make up for the profit lost to taxes, they will not do so without cutting an equivalent amount from their employees' salaries.

CEO's have a responsibility to their stockholders and a company's value is based off its profit margins, not how much it pays its employees.

If you want hard proof of this business mentality, just look at the profits wall street companies were posting even as they shed thousands of jobs.

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by: Democat @ Tue Feb 05, 2013 at 03:27:29 AM UTC

[ Parent ]

I don't want to confiscate their wealth or send them to poor house

Anyone making $1 Billion per year in salary is welcome to it, but they should also pay their fair share in taxes. They may not see it, but I assure you they have profited with their own intelligence and business plan, but also with America's world class infrastructure, world class workers (maybe) and it's very stable business, banking and legal structures (despite changing tax rates.) America is exceptional and there are very few countries in the world where they can make so much money and still live in almost pure freedom.

I doubt the Kochs or Waltons want to live in China, or Singapore, or India as many other billionaires do. They stay here.

And, I would hope if I made a Billion I wouldn't be so shortsighted as to think 1) I did it all myself, and 2) I shouldn't pay back to the very society that enabled me to become so rich.

I think I've figured out one key to their massive greed: one or many or most of them wants to be the first Trillionaire.

And I'm guessing that person will still not be happy even with all that wealth.

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by: Zappatero @ Tue Feb 05, 2013 at 21:01:29 PM UTC

[ Parent ]

Good

Very informative post. Thanks for taking the time to share your view with us. toy for man

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by: Podoski @ Wed Feb 06, 2013 at 01:49:53 AM UTC