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Millionaires make up about 0.2 percent (that’s the richest one fifth of one percent) of taxpayers, and yet they received about 17.6 percent of the income tax cuts that were extended at the end of last year. (And millionaires certainly benefitted disproportionately from the estate tax cut that was part of that compromise.) And yet, none of the Republican spending proposals would require this group of taxpayers to share in the sacrifice that they claim is needed to reduce the budget deficit. Congresswoman Schakowsky’s proposal demonstrates that there is a fairer way to reduce the deficit.<\/p>\n

Ultimately, of course, we need fundamental tax reform that eliminates loopholes, raises revenue and makes the system fairer and simpler. Until that happens, the only fair alternative is to require the best off Americans to contribute at a higher rate than they do today.<\/p><\/blockquote>\n<\/div>\n<\/div>\n

 <\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

The rich are getting richer. The middle class and poor are getting poorer. What is the Republican solution to the deficit crisis? More tax<\/p>\n","protected":false},"author":4,"featured_media":8052,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[294,93],"tags":[626,2511],"yoast_head":"\n