“Things to Tax” by Paul Krugman (TIMES, 11/28/11)


     Kudos to Paul Krugman, who has suggested two areas where revenue could be raised: “taxes on very high incomes and taxes on financial transactions.”

     Since the top0.1 percent of taxpayers have a combined income of more than a trillion dollars, taxing them would yield a significant amount of revenue, which “could make a serious contribution to deficit reduction.”  

     Taxing exploding financial transactions (that have dubious economic value) could raise an additional “several hundred billion dollars in revenue over the next decade.”

     Both measures would go a long way toward reining in the budget deficit, so even some Republicans might support them.  Will the weak leaders of the Democratic Party heed this advice?

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