Taxing the Rich

I may be more sympathetic to certain kinds of regulations than Matt Yglesias is, but I’m certainly open to higher taxes on the rich as well. Via Matt, then, here’s a Wall Street Journal chart showing exactly who would be affected by Obama’s tax plan (which allows Bush’s tax cuts on high earners to expire) vs. the Republican plan of extending the entire Bush package. Call me crazy, but after a decade of living large in ever more sumptuous beach houses and promoting policies that almost wrecked the economy, I think the folks earning a million bucks a year can probably afford to pay an extra 5% in taxes. Seemed to work OK in the 90s, anyway.

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