Support for Taxing the Rich

Financial Justice Ideas and Issues

The RichNew Orleans I won’t say it’s a sea change, but there are starting to be some encouraging signs of change among the elites and critical chattering classes on the issue of more equitable taxation, particularly the need for the rich to pay their fair share.

In a recent issue of the New Yorker, surely a barometer of such things if anything might be, their regular “columnist” of sorts, James Surowiecki, who does the “Financial Page” in the magazine, came out squarely for the need for more brackets to tax the rich and super rich.  Hear, hear!

Paul Krugman, the Nobel prize winning op-ed columnist for the New York Times also seemed to be weighing in favor of the rich paying a more equitable burden.

There have been encouraging stories debunking the notion that jobs are created by unfair taxation favoring the rich as well.  Other reports are correctly documenting their tightfistedness compared to the poor and working families when it comes to philanthropy despite the headlines from the Gates-Buffet Company.

Several years ago there was real debate and almost victory in creating a “millionaire’s tax” in New York City to deal with budget woes there.  Seems to me it’s time to make this national policy.

Why is the Obama Administration not part of this debate?