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Kicking off his candidacy this afternoon in Burlington.

The self-described socialist senator from Vermont wants to reverse the "massive transfer of wealth from the middle class to the top one-tenth of 1 percent." The 90 percent top income tax rates America had during the 1950s might not be too high, he said.

http://www.cnbc.com/id/102694355" onclick="window.open(this.href);return false;

Bubba wrote:Kicking off his candidacy this afternoon in Burlington.

The self-described socialist senator from Vermont wants to reverse the "massive transfer of wealth from the middle class to the top one-tenth of 1 percent." The 90 percent top income tax rates America had during the 1950s might not be too high, he said.

http://www.cnbc.com/id/102694355" onclick="window.open(this.href);return false;

That would create some impressive capital flight.

The thing that Bernie doesn't comprehend is that the post-WW II middle class economy is the historical aberration. The rest of the world was bombed to rubble. The USA was 50% of the world economy and had an enormous labor shortage. Unskilled and semi-skilled labor could command middle class wages. Automation and global competition have put us back to where we had always been previously. If you jack up tax rates too much, the capital will vaporize with a few mouse clicks. Rich people can invest in the other 80% of the world where Bernie isn't going to slaughter them on taxes.

From Time Magazine on-line

The Radical Education of Bernie Sanders
Sam Frizell @Sam_Frizell
May 26, 2015

http://time.com/3896500/bernie-sanders- ... tter-brief" onclick="window.open(this.href);return false;