A Populist, Progressive Budget

4.      Create new tax brackets that range from 45% starting at $1 million to 49% for $1 billion or more.  Not at all unreasonable when one considers that as recently as 1986, an individual with earnings over $1,171,580.00 paid Federal income tax at a rate of 50%.

5.      Implement a progressive estate tax

6.      Enact a financial crisis responsibility fee and a financial speculation tax on derivatives and foreign exchange

7.      Eliminate the individual Social Security payroll cap to make sure upper income earners pay their fair share

8.      Increase Social Security benefits based on higher contributions on the employee side

The People’s Budget has as its bottom line the goals of:

·         Deficit reduction of $5.6 trillion

·         Spending cuts of $1.7 trillion

·         Revenue increase of $3.9 trillion

·         Public investment $1.7 trillion

Sounds like a solid plan.

Michele Petrovsky, Webmaster at Tools4Change Author of, Cathedral or Bazaar?  Fix Higher Education – Teach by the Seat of Your Pants , Donkey Dharma, and Quick Guide to Linux Glen Mills, Pa.

***

To submit a blog to Free Speech Zone, e-mail it to bstack@usw.org. Keep it to 250 words or fewer. You MUST include your full name, hometown, and state. You may attach a photograph of yourself. Please include a phone number. This WILL NOT be published. Posting any given blog is within the discretion of the USW. No blog using foul language (this is a family site), false information (we don’t want to get sued), or unnecessary personal attacks (again, we don’t want to get sued) will be used. Wait a reasonable period of time, then blog again! This is a Free Speech Zone.