http://www.addictinginfo.org/2013/01/08/tax-deal-results-in-most-progressive-tax-code-since-jimmy-carter/
While taxation remains at the lowest since the 1950s, the new tax code enabled through the fiscal cliff has resolved one of the long-standing issues in taxation, fairness.
For the first time since 1979, according to an article at the New York Times, our tax code is progressive, making those who utilize the system more, pay for the cost to support the system. Since the Carter tax reforms of 1980, our tax code has shifted, with more and more of the tax burden being carried by the poorest in the United States. This in turn created a retarding effect on income, further repressing wages.
The issue which remains is that the total government revenue still remains at record lows. This, however, can be addressed through several methods. The best solution is to increase revenue alongside the drawdown of the over inflated military budget. But where would this added revenue come from?
One solution would be to reinstate the financial services tax, repealed over 40 years ago. The financial services tax was a simple half-percent sales tax on financial transactions. It is estimated that this tax would in a single move bring in half a trillion in new revenue. It would furthermore punish companies which engage in the market destabilizing technique of flash trading, which can cause collapses of stocks, and entire markets, in a matter of minutes.
and therein lies one problem all the republicans see and hear is half a trillion gone baby gone, they don't hear the poor will not be the step ladder for them to reach the top, selfish apathetic people that some elected are and have been willing to make it on the backs of those loyalist with the blinders on.
