One Reason Top End Taxes Must Be Raised

Robert Borosage

Billionaire Steve Schwarzman compares Obama’s call for taxing private equity income as income, just like everyone else, a “war, like when Hitler invaded Poland in 1939.”

Currently Schwarzman undoubtedly pays taxes at a lower rate than his secretary or his chauffer. Treat his income like that of everyone else? Hitler sacking Poland.

This is why Gilded Age inequality is so destructive of democracy. The wealthy begin to see their privilege as their due, and to see the rest of society as barbarians (if not Nazis).

Get updates in your inbox