Tax the Wealthy

There is a story in today's San Francisco Chronicle by Joe Garofoli discussing potential taxes that Governor Jerry Brown may consider. The idea of an additional 1 percent tax on individual incomes greater than $500,000 is dismissed by “Analysts and activists,” as too politically perilous, because Brown also wants to extend sales taxes and vehicle license fees. The article points out that the top one percent of earners from 1978 to 2008 see income increases of 81 percent, while the incomes of the bottom 20 percent drop by 11.5 percent. One would think that earners between 21 and 89 percent did not do nearly as well as the 1 per centers. The first question is; who are these ANALysts and activists? Secondly; where is the political risk of raising the income tax of the wealthiest along with the regressive taxes on sales and automobiles?

The 1 per centers are responsible for the state of the economy. They should pay more to see the state and ultimately the Federal Government out of this mess which they have made. Some worry that these Brahmins will take their jobs and leave. Most of the jobs they now create are in Chinese prisons. They have no regard for the society in which they live and their problems should not be the concern of the 99 per centers.