Next Up: A "Flat Tax" for the Rich

Submitted by Anna on Sun, 11/28/2010 - 13:13

Michael Hudson
November 28, 2010

Defend Social Security and Medicare: National call-in day November 30th

Published by CounterPunch.

The danger the United States faces today is that the government debt crisis scheduled to hit Congress next spring (when Republicans are threatening to vote against raising the federal debt limit as the government deficit soars) will provide an opportunity for the wealthy to give a coup de grace on what is left of progressive taxation in this country. A flat tax on wage income and consumer sales would “free” the rentiers from taxes on their property.

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