Posted 1 year ago on Dec. 29, 2011, 2:21 p.m. EST by nucleus
This content is user submitted and not an official statement
Tax 'em when they are alive: top income tax rates of 90%, and tax them again when they are dead with a massive estate tax. Tax corporations at the full corporate rate, eliminate deductions for lobbying and CEO perks, eliminate the foreign investment tax credit and eliminate the hiding of profits overseas to avoid taxes.
Revenue from these taxes from 1945-1979 paid off the post WWII deficit (120% of GDP), built a nationwide infrastructure and resulted in the longest period of stable growth this country has ever seen.
This would dismantle the existing plutocracy, prevent the rise of a future aristocracy, reduce corporate control of government and fund the next generation of civil infrastructure and social services including Medicare for all and a "living wage" retirement system.
To address the issue of estate taxes killing small businesses and farms, estate taxes on these could be held in abeyance until such time as the farm / business is sold. This would prevent the forced sale to pay inheritance tax.