Economist's View: Opinion: Robert Shiller: 'Better Insurance Against Inequality'
This post was originally posted at The New Democrat on Blogger
I could blog about indexing taxation of income for the wealthy in a couple of ways. One would discuss the fact that it would never pass this Congress, especially with a Republican House. Also, vulnerable Senate Democrats up for reelection in red states don't want to talk about tax increases in an election year. They want to get reelected and keep the Senate in Democratic control.
This proposal will never become law but, just for the hell of it, we can talk about why its not good policy, which is yet another reason why it won't become law. The idea that taxes on certain people could go up automatically without specific congressional or executive branch action is undemocratic. Money is power and the government should not rule that some people should have less of it without due process and complete transparency.