Stimulate Economy With 90% Tax On Top Earners

by Noel Sheppard - September 3rd, 2010 - Newsbusters

Can you imagine what would happen to the economy if top wage earners were taxed at 70 to 90 percent? Former Clinton Labor Secretary Robert Reich can, and he thinks it's a great idea.

To be sure, many Americans were concerned that giving Democrats control of the executive and legislative branches of our government during an economic crisis could usher back in socialist tendencies first seen in this nation during the Depression.

Fears of such a leftward shift sparked a new powerful movement called the Tea Party.

With this in mind, Reich's op-ed "How to End the Great Recession" published in Friday's New York Times validates these concerns...

There are so many ways to rephrase Reich's plan. "Kill all investment and grow the economy anyway!" More extreme? "Kill the owners and let workers run the world."

Both are about the same as Robert Reich's solution. It is the typical solution of the radical left wing extremists who have been frustrated for years with their inability to explain the wealth of America when America tolerates the freedom to work hard and keep your earnings. The "workers" in Robert Reich's world don't want to work hard, and resent anyone else making more money than they do. When they get in power they always destroy wealth. Their plan is to redistribute it but their result is to destroy it, making everyone poor.

If we don't change direction quickly, Reich will get his wish, get his plan, get his unintended result.