Thursday, October 25, 2007

This is, if not the beginning of the end, at least the end of the beginning* of the great American class war.

The House's top Democratic tax writer on Thursday unveiled a $1 trillion plan to repeal the alternative minimum tax and lower the tax burden of most lower- and middle-income people.

The proposal would be paid for by requiring the wealthy and some corporations and investors to contribute more.

Until now, only the super rich class has been fighting. Now the remaining 99.6 % are fighting back**.

* so far a quote of Whinston Churchill in December 1941 he was either commenting on US entry in the war or the first great Soviet counter offensive. Of course, I mean to imply that the US is finally entering the war against inequality and not that Charlie Rangel is the Stalin of our times.

**the 99.6% calculation is based on crude linear interpretation of numbers on table B3 of the spreadsheet one click away from the web page of the Marquis di Lafayette of our times.

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