The Republic of T.

Black. Gay. Father. Vegetarian. Buddhist. Liberal.

Digest for April 17th

Here are some of the people writing about some of the stuff I wish I had time to write about, for April 17th from 16:33 to 16:36:

  • Five Reasons Why The Very Rich Have NOT Earned Their Money | Common Dreams

    "The wealthiest Americans believe they've earned their money through hard work and innovation, and that they're the most productive members of society. For the most part they're wrong. As the facts below will show, they're not nearly as productive as middle-class workers. Yet they've taken almost all the new income over the past 30 years.

    Any one of these five reasons should reinforce the belief that the rich should be paying a LOT more in taxes."

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  • In the 2012 campaign, which Mitt will we get? – The Washington Post

    "

    It’s all over but the shouting — or, in this case, the polite applause: Mitt Romney is going to be the Republican presidential nominee. But which Mitt Romney? Will it be Mitt One or Mitt Two?

    This is not an inconsequential question. Mitt One is a fiscally conservative, socially moderate, Wall Street-style Republican who believes in compromise to get things done. Mitt Two is a far-right zealot who accuses Democrats of trying to impose godless socialism and claims that what hangs in the balance this fall is nothing less than liberty itself."

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  • Romney Tax Tips: 10 Ways to Stiff the IRS | Mother Jones

    "Unlike Mitt Romney, most Americans who will pay their taxes today can't afford fancy accountants. But Romney has reluctantly made public his tax returns, and thus shared valuable strategies to ensure that he pays a far lower rate than, say, Warren Buffett's secretary. Citizens for Tax Justice recently waded through Romney's 2010 return—in which his $22 million in income was miraculously taxed at just 13.9 percent—to come up with a handy primer for how you, too, can beat the IRS at its own game. To paraphrase:"

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  • How Wealth Reduces Compassion | Common Dreams

    "Who is more likely to lie, cheat, and steal—the poor person or the rich one? It’s temping to think that the wealthier you are, the more likely you are to act fairly. After all, if you already have enough for yourself, it’s easier to think about what others may need. But research suggests the opposite is true: as people climb the social ladder, their compassionate feelings towards other people decline."

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  • Titanic Tax Shirking by Those in First Class | Labor | AlterNet

    "President Obama’s 2011 income tax documents showed on Friday that he paid a significantly higher rate than the significantly richer Mitt Romney, highlighting the titanic level of tax shirking committed by far too many 1 percenters.

    President Obama paid 20.5 percent on earnings of $789,674. The President’s total income is the amount Romney raked in every two weeks last year, for a total of $21 million. Romney, the likely GOP presidential nominee, has estimated he’ll pay a tax rate of only 15.4 percent. Romney is among the millionaires and billionaires – the 1 percenters – enjoying the lowest levels in 50 years. Some pay nothing!

    That shirking of civic duty contrasts starkly with the values of some of the richest men in the world who went down with the Titanic 100 years ago."

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  • A rich guy’s case for (much) higher taxes – The Washington Post

    "“I was a kid in the 1950s,” says David Levine. “And the whole time, the top marginal tax rate was 87 percent. Not many people paid that much. Only three baseball players — Ted Williams, Joe DiMaggio and Willie Mays — got there. But it was 87 percent.”

    Most people, of course, do not mark major life events by the top marginal tax bracket at the time. But David Levine isn’t most people. Levine is the former chief economist for the investment-management firm Sanford C. Bernstein. He is, as you might expect, a very rich man. But he’s one of those rich guys who, like Warren Buffett, is begging the government to raise his taxes."

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