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Revenue Matters by Berkley Beddell

Getting Serious About Deficits, Rebuilding Infrastructure and Reducing Unemployment

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Repairing America By Dealing Forthrightly With Its Negations

  • Dec 4, 2012
Rating:
+5
Revenue Matters  - Tax the Rich and Restore Democracy to Save the Nation by Berkley Bedell
is an important work which shows how the United States can do better by taking action on a
number of fronts including revenue generation, infrastructure, energy jobs, public education,
fairer tax rates, ending overseas conflicts and a plethora of areas which deal with managing
governance more productively.

Bedell shows that the top 20% echelon in this country enjoys 93% of the wealth while the top
1% controls 42% of the wealth. This is a huge imbalance which can be addressed by taxation
in order to close budget deficits, rebuild failing infrastructure and exploit the new energy
technologies like solar, wind, geothermal and others.

Bedell provides examples of how Germany and Austria trimmed unemployment by scaling back
workers' hours with the government making up the difference. This method of dealing with
unemployment is more optimal than laying off more workers and paying larger unemployment
compensation.

Nowhere is the federal spending more evident than in the contrast between the Clinton Administration
surplus of $236 billion and the deficits of two Bush Administrations occasioned by huge increases
in military spending precipitating budget deficits of $300 billion and $400 billion dollars.

Bedell would raise revenues from military spending cuts, tax rate adjustments, financial gambling
taxes, off shore tax havens, the carbon emissions tax and others. The most important tax
the author does not mention. That is, tax on junk food to raise revenue and provide incentives
for people to stay healthy. A health maintenance system which rewarded health and taxed
excess consumption would deal forthrightly with the Medicare and Medicaid projected shortfalls.

Bedell cites examples of a growing number of millionaires and billionaires who believe that the
time has come for the wealthy to share more of the tax burden. Warren Buffet and the Patriotic
Millionaires Club have asked for more shared sacrifice to make badly needed repairs to
America's federal budget, its infrastructure and its people. For instance, Warren Buffet stated:
My friends and I have been coddled long enough by a billionaire - friendly Congress. It's
time for our government to get serious about our shared sacrifice.

Revenue Matters  - Tax the Rich and Restore Democracy to Save the Nation by Berkley Bedell
is a well-prepared book which covers the essential elements of the budget deficit together with
ample examples of necessary revenue raising to deal with America's most pressing needs.

Article first published as <a href='http://blogcritics.org/books/article/book-re...evenue-matters-tax-the/'>Book Review: <i> Revenue Matters: Tax the Rich and Restore Democracy to Save the Nation </i> by Berkley Bedell</a> on Blogcritics.
Repairing America By Dealing Forthrightly With Its Negations

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December 11, 2012
great write up as always.
December 11, 2012
Thanks for the compliment. I have another one coming up soon on the budget balancing gymnastics now going on in Washington DC. Finally, you will read something that can be implemented on the Hill.
 
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Dr Joseph S Maresca ()
Ranked #25
Dr. Joseph S. Maresca CPA, CISA      Amazon / KDP Books:   SEARCH- America's Comparative Advantage by Dr Joseph S Maresca   SEARCH- The Solar Energy Potential … more
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