This post is brought to you by the number zero.

Via the White House blog...

Chart of the day.

Goldy's got it...



We've got the most regressive tax structure in the country, it doesn't work and it's getting worse. Maybe it's time to start tapping our billionaires...

Hat tip to Howie.

Good question…

…from John Aravosis.

Why not raise taxes on rich corporations, and individuals, to pay for the disaster funding?

Heck, while we're at it, let's tax 'em a little more and pay for a bunch of other stuff, too.

My money comes and goes…

…and rolls and goes and flows
Through the holes in the pockets of my clothes…

Wonder where it ends up?

New data released by the IRS reveals that, over a period of 12 years, tax rates for the richest 400 Americans were effectively cut in half. In 1995, the richest 400 Americans paid, on average, 29.93% of their income in federal taxes. In 2007, the last year for which the IRS has released data, the richest 400 Americans paid just 16.63%.

In 1995, just 12 of the 400 richest Americans paid an effective tax rat of between zero and 15%. By 2007, that number skyrocketed to over 150. The massive reduction is due to both Bush-era tax reductions for the wealthy and the aggressive exploitation of tax dodges and shelters.

Damn right it's a class war, and "don't retreat, reload" is starting to sound like good, if still figurative, advice.

From the "Wonder where the money went?" file.

Another clue from the New York Times…

The final figures show that the median pay for top executives at 200 big companies last year was $10.8 million. That works out to a 23 percent gain from 2009.

These are the people who can't handle a tax hike?

Heh™.

Conan O'Brien via Ron Chusid...

“A Tea Party group has a summer camp for kids, the only one where they sit around the campfire and tell scary stories about taxing the top 2%.”

You want the truth?

OK, then, via Robert Reich...

Here’s the truth: The only way America can reduce the long-term budget deficit, maintain vital services, protect Social Security and Medicare, invest more in education and infrastructure, and not raise taxes on the working middle class is by raising taxes on the super rich.

Anybody who talks about deficits without talking about revenue doesn't really care about deficits. Or you.

Wonder where the money went?

Rep. Jan Schakowsky (D-Ill.), sponsor of the Fairness in Taxation Act, has an idea...

In the United States today, the richest 1 percent owns 34 percent of our nation’s wealth—that’s more than the entire bottom 90 percent who own just 29 percent of the country’s wealth. And the top one-hundredth of 1 percent now makes an average of $27 million per household per year. The average income for the bottom 90 percent of Americans? $31,244. It’s time for millionaires and billionaires to pay their fair share.

Past time, but better late than never, and better now than later.

From the "Do the right thing" file.

Like I always say sometimes, you can't have a serious discussion about budget problems without talking about revenue solutions. Chuck Schumer gets serious…

"I noted with interest last week's Wall Street Journal/NBC poll, the most popular proposal to reduce the deficit out of 23 options surveyed was a tax -- a surtax -- on millionaires and billionaires. It's not only a popular thing to do, it's the right thing to do."

Easier said and all that, but this important message from an important voice is a step in the right direction.

A reminder…

…from Dave Johnson…

Every time you hear them talk about the need for budget cuts remember they just passed more huge tax cuts for the rich.

Just as surely as these are the worst of times for some of us, they're the best of times for others. Talking about budget problems without talking about revenue solutions is class war, plain and simple.

Chart of the day.

Via digby...

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From the "Me too" file.

Gov. Chris Gregoire on Tuesday told reporters she supports I-1098, the income-tax initiative on the November ballot that targets high-wage earners.

Despite my typical antipathy for the modern initiative process, me too.

(Not) The truth.

Venture capitalist Nick Hanauer, via the NPI Advocate…

If it was true, what they say about taxes, then the best opportunities would be in the places with the least taxes... like Somalia. But it's not true, is it? Is it? It's not true. The best opportunities to create great wealth, in this country — and in the world — are in high-tax places.

OK, that last bit is the truth, but the first part? Nope.

From the "Like father, like son" file.

Via Politics Northwest…

Microsoft co-founder Bill Gates supports the income-tax initiative and will vote for it, according to the I-1098 campaign.

Sandeep Kaushik, a spokesman for Yes on 1098, said Gates' father, Bill Gates Sr., had a long conversation with his son on the matter and confirmed his support for the ballot measure.

Sandeep hasn't asked me (nor has anyone, for that matter), but I'll confirm my support for the ballot measure, too.

Map of the day.

Via Slog...



Upper Left sez vote Yes On Initiative 1098. An initiative may not be the right way to do this, but the Leg ain't got the huevos.

It's been hard to resist…

…abandoning my general dislike for what the initiative system has become. Taxing the rich, legal pot and Costco vodka all have their appeal. Still, if that's what the people want, there's nothing in any of them that couldn't be accomplished by a more courageous and representative legislature, and an engaged electorate pressuring them to do the people's business as the people see fit. It's called "representative democracy" and I'm old-fashioned enough to think it's worth a try.

It's kind of reassuring, then, to see big oil lining up behind Tim Eyman's latest tax craziness. The Big Oil Initiative (that's what we're going to call it, right?) should be a big enough target for my hostility that even if I can't bring myself to wave the flag for the apparently good guys, I can leave 'em mostly alone.

Consistency, it's said...

...is the hobgoblin of little minds. Which is to say, my general and well documented disdain for the initiative process and the knee-jerk no that goes with it is crumbling in the face of the prospect for a high-income income tax. The Gates, Sr. proposal may be the first petition I've signed in for-practically-ever.

In other news, looks like a trip to the computer fixit guys is finally in the offing for tomorrow. Off I go, fingers crossed...

No reason at all…

…sez Senator Pridemore.

Nine state senators are working on a proposal that would increase taxes for the state’s wealthiest individuals and corporations, similar to two measures passed this week in Oregon.

The group of lawmakers is considering higher taxes for "the people more able to pay,” says State senator Craig Pridemore (D-49). Citing the Oregon measures, he says, "there is no reason Washington cannot do the same."

Right, I mean, correct you are, Senator! I don't know exactly what they'll come up with, but it's hard to imagine anything that would correct some of the notorious regressivity of our state's tax code that I wouldn't support.

The Senator from the 33rd, Karen Keiser, is the only other name I've seen of the nine. Anybody know who else is involved in the discussions?

From the "Why not Washington?" file.

Good news from the lower upper left...

Oregon voters bucked decades of anti-tax and anti-Salem sentiment Tuesday, raising taxes on corporations and the wealthy to prevent further erosion of public schools and other state services.

The tax measures passed easily, with late returns showing a 54 percent to 46 percent ratio. Measure 66 raises taxes on households with taxable income above $250,000, and Measure 67 sets higher minimum taxes on corporations and increases the tax rate on upper-level profits.

Hey, we've got rich people and corporations. We've got schools and other state services, too. And we could sure use the money.

So, why not Washington?

Yes, please…

…or them, anyway. Goldy...

Here’s a free tip to those Seattle-haters in the rest of the state who just love to screw us big city folks: pass a high-earners income tax.

Heck, a low earners one, too, if we can get the sales tax down below 5% or so. A corporate profits tax to replace the B&O wouldn't hurt, either.

First things first, though, and the high earners tax should be the first thing.