Occupy Agenda Requires Regressive Tax System

At Investor's Business Daily, "Tax Hikes On Top Earners Won't Pay For Safety Net":

As Occupy Wall Street turns its focus to D.C. this week, its long-term agenda seems to be higher taxes for the top 1% and firmer government support for everyone else.

If so, then what the protesters want — even if they aren't saying it and almost certainly don't even realize it — is higher taxes for the 99%.

America's progressive income tax system is not particularly well-suited to financing an expansive safety net. And that would remain true even if the income tax becomes a whole lot more progressive with Senate Democrats' plan to slap a surtax on income more than $1 million.

Just look at what you can — or can't — pay for with this so-called millionaire's tax and a reversal of the Bush top-earner tax cuts.

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