Why the Bush tax cut for the wealthy must go

Unlike everyone else, the wealthiest Americans are saving money and can afford a higher rate.

So says Robert Reich on Salon.com.

The economy is slouching backward because consumers can’t and won’t spend enough to revive it. Congress is about to recess for the summer without doing anything to fill the gap. And it looks like the only issue it will be debating when it returns is who, if anyone, should pay more taxes next year — just the very rich, everyone, or no one? The cuts enacted by George W. Bush will expire in January, and with midterm election pending in November we’re about to be treated to months of tax demagoguery.

Here’s a guide to the perplexed.

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