Maureen Dowd (2/5, Opinion, “Disgorge, Wall Street fat cats”) rightly criticizes those princely corporate executives who are still taking mega-bonuses and salaries after having driven their companies into the ditch. She laments that it is nearly impossible to make them pay back the monies and perks they continue to grab off.
Republican congressmen still contend that it would damage the economy further if George Bush’s eight-year-long tax cut for the super-rich were reversed. How so? We now know that their supply-side economic theory, where big money is directed and retained at the top and is supposed to trickle down to the masses is, and always was, a lie.
It’s simple. Go to the end of the feeding chain and enact today, not tomorrow, progressive income tax rates that seriously increase taxes on the soaring income of the super-rich. Chances are that much of what the IRS would be gathering in would be ill-gotten gains or at least stimulate a return to democracy from plutocracy.