I don't really get why you're for increasing the corporate tax rate but not the top income tax rate. I guess corporate taxes feel less personal, but the money is coming from somewhere. With income taxes you know for sure it's coming from people that can afford it. With corporate taxes it might come from rich investors and CEOs, but it could just as easily come from consumers paying a higher price, employees taking paycuts/layoffs, or small business startups that are putting everything they own into their business.
I also wonder why you think Bernie has a good chance, while also thinking socialist style policies is bad politically. Like i said earlier those two thoughts seem incompatible to me. What makes you think Bernie has a good chance?
Let's take Stephen Colbert as an example. He is reportedly earning a cool $4.6 million, per year, for hosting The Late Show. At the top rate of 39.6%, his Federal tax bill will be roughly $1.82 million and his New York State tax will be roughly $386K (according to BankRate.com, 6.85%, up to $1M and 8.81% over a million). This makes his total contribution to society of $2.2 million, per year, or almost 48% of his earnings. Even as a Bernie supporter, I stand with Stephen and say that he is already making a fantastic financial contribution to society and currently, we should absolutely not be asking him to pay any more, as there are far more just sources for taxes. If, due to legal loopholes, his tax bill is nothing like this, I am all for closing a good deal of those loopholes, and re-evaluating the tax levels.
As for corporation tax, I have no disagreement with Bernie:
We need real tax reform which makes the rich and profitable corporations begin to pay their fair share of taxes. It is absurd that in 1952, corporate income taxes provided 32 percent of federal revenue, but in 2014 they provided only 11 percent. It is scandalous that major profitable corporations like General Electric, Verizon, Citigroup and Bank of America have, in a given recent year, paid nothing in federal income taxes. It is fiscally irresponsible that the U.S. Treasury loses about $100 billion a year because corporations and the rich stash their profits in the Cayman Islands, Bermuda and other tax havens.
For decades, this bonanza of corporate profits haven't benefited the middle class in the slightest, with stagnant wages and their jobs being lost to the lowest common denominator. This is where we need to redress the balance, with a $15 minimum wage and by closing the loopholes that legally allow corporations to sometimes contribute nothing in federal taxes or worse, we give them millions in a tax rebates...
So, rich investors, can and should be contributing a decent percentage of their earnings and no more of the tax burden should be put on someone earning a daily crust, from the fast food server to the CEO (sorry CEOs, IMO, your share options are fair game )