President Obama's Budget is Disappointing
Good but limited measures on tax reform are sacrificed, once again, to Obama's eagerness to compromise on budget cuts
by Mark Weisbrot
President Obama's proposed budget
has a few interesting proposals for reforms over the next decade. Among
the best are the proposals to rescind the Bush tax cuts for households
with incomes of more than $250,000, and to tax dividends for
stockholders among this group as ordinary income. These and a few other
proposals would sum up to a small but significant step in the opposite
direction to where this country has been going for the past three
decades: that is, a vast upward redistribution of income to the rich and
the super-rich.
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