Balloon Juice | Open Thread: Good, Hunt Down the Rich Tax Cheats
I still think we need to go back to the good old tax code of the Eisenhower years. The effective tax rate was never as high as the official tax brackets. Never. And the alternative minimum tax was proposed because you had a significant number of corporations and individuals who paid no tax at all. A recent business article pointed out that it might be relatively simple to go after a lot of under-reported income of wealthy individuals. After that the Democrats need some smart people to revise the tax code and to undo much of the mess caused by Republicans.
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