Hmmm..... there are only 4,000.000 families that earn enough money to be taxed by the proposed "tax the rich" program. Since most of them make under $500K per annum - I suspect that won't make much of a dent in the $14 trillion deficit.
Now, let's take a look at who some of the UberRich who aren't particularly taxed might be:
Nancy Pelosi, richest member of Congress, who evades taxes by assorted means put in place decades ago when the Democrats controlled the house and senate. The late Teddy Kennedy and the entire Kennedy family, who worked very hard to make sure that the tax code had exemptions for his, and the Gore family, as in Al Gore, through an artificial distinction between Big Oil and Little Oil. The Gores and the Kennedys are Little Oil, and pay a much lower rate - or at least the Kennedys would pay a lower rate if they had to pay at all - it seems that the overseas shelter laws that were repealed some years ago had exemptions that specifically assisted the Kennedys and a few other powerful families. Then there is the matter of all of those family foundations that receive all of the money and then hire the various highly qualified relatives at exorbitant salaries to donate home heating oil to "the needy" in districts where Kennedys are running for office. B^)
I do wish that before people blamed the Republicans for everything, they'd take the time to read a little history of tax law and a little demographics. Or just sit down and read the Congressional Record and the voting records of the various elected officials instead of falling for whatever little lies they're giving out in their speeches. The Democrats at one point defined "the rich" as any family earning $60K or more according to a speech and interviews given by the late Senator Paul Wellstone of Minnesota. No suggestion was ever made of increasing taxes on the Feinsteins, Kennedys, Gores, and Pelosis by targeting their exemptions. However, abolishing the mortgage interest exemption, taxing health insurance, and raising income taxes to 25% on those earning $60K or more have been considered by the Democrats.
