Re: [MLUG - DISCUSSION] [POLITICS] another cool graph from Krugman

[Mike Miller <EMAIL:PROTECTED>]

On Fri, 9 May 2008, Vern Green wrote:

> See Mike, that flies in the face of everything you have said on this 
> forum about how much money people are worth. Why is it alright for 
> Edwards to make 3.5 million on the backs of another person's injuries, 
> when it is not alright for a CEO to make 3.5 million when his company is 
> selling goods?
>
> Maybe I am having a bad day, if I am, its because it is so hard for me 
> to concentrate with your inconsistencies blinding me all day long.


Your understanding would be helped greatly by a better memory.  Maybe my 
ideas are too subtle for you.  I never said that no one should make $3.5 
million / year.  I would say that the tax rate should be high at that 
level and it should increase to 90%, maybe more, after somewhere around 
$10 million / year.

The thing that really bothers me is when someone makes $3.7 billion in a 
single year and pays no more than about 35% in federal income tax (yes, 
that did happen in 2007).  If his income could be considered capital 
gains, he would only pay 15% federal income tax on it -- much less than 
what we pay.  We should seek to limit the power and influence of the 
super-rich.  They do not have our best interests in mind and they will 
influence policy to their personal benefit.

Mike

_______________________________________________
discussion mailing list
EMAIL:PROTECTED
http://mlug.missouri.edu/mailman/listinfo/discussion