When the const'n was amended and personal income taxation started, only the very wealthy were affected. Paying taxes was quite the status symbol. Of course, we are talking a long time ago.
Taxing is so politcal, rather than policy-based. It is not coherent. The financial bail out is stunning. Those companies are prospering so much. Tiffany's, Cartiers are doing record business with the bonus money. Yet, if I can't pay my bills, I don't eat and I am homeless.
Economics is my strong suit. I know just enough to know that I don't truly understand it, despite reading the Wall St. Journal and the Economist. The articles I can understand but I can't put in a grand context. Everyone seems to be screaming something from every conceivable angle.
Most jobs are started by small business. Americans should be furious about the financial crisis. Considering the mess and that most of it was preventable with mere prudence, it would have been reasonable to bar overly large bonuses for a while. When has Treasury or the Federal Reserve worked around the clock providing credit lines for you.
Imposing increased taxes on only the wealthy doesn't help generate wealth creation. If every middle class tax payers would join an association and pay for lobbyists to play hard ball, we could have an equal place at the table. We argue about whether the Dems or the GOP will help the middle class when both parties are screwing the middle class. Wall St. executives have no trouble paying multiple tutitions at Harvard, Yale, etc. while most families can not afford state colleges. Further, certain fields with no high financial reward, such as teachers and social worker, can only be entered by the wealth playing a hobby.
The scariest thing for me is jobs. I keep reading new jobs will be very different and they will not emerge for quite a while. College seemed long enough a wait to earn decent income. Imagine studying now, knowing there are no jobs in your field and you are incurring debt by preparing for a job that does not exist. It chills the national character and our expectations.