Reply #29: Clinton begged Congress for more progressivity in the tax code. Repubs... [View All]

[AP]

...wouldn't give it to him.

When the economy starts rewarding the rich a lot, it should be automatic...you should readjust the way income tax is apportioned. You need to add higher tax bands farther out, and you need to spread out the rates.

Clinton tried to do that. Republicans took the great economy he created, but refused to give America a fair tax code.

Had the code been made more progressive, the government either could have lowered taxes on low income earners, so they could have kept more money and invested it wisely, and/or, gov't could have collected more revenue, and could have invested it in things which would have created more social wealth which would have spread widely to all Americans. (Just imagine some of the infrastructure investments we could have made to nurture the next Einstein, or save the environment for the next generations -- high speed national rail system, investments in K-12 and public universities, revitalize neighborhoods and economies...). We could have done so much. Instead, we simply shifted a lot of wealth to the wealthiest, and we only have this crappy economy to show for it.