By Matson Boyd
The right-wing side of the internet is ablaze right now with self-righteous condemnation of young radicals and their supposed inability to do math. Here, Fox Business Channel’s Neil Cavuto confronts Million Student March activist Keely Mullen. On closer inspection, it is Cavuto, a very responsible seeming man wearing a very nice suit, who has a serious math problem. My comments bolded:
MULLEN: The Million Student March is a movement for a more equitable and fair system of education as opposed to the really corporate model that we have right now. So the three core demands of the national day of action are free public college, a cancellation of student debt and a $15 an hour minimum wage for people who work on campus.
CAVUTO: How’s that going to be paid?
MULLEN: Great question. I’m not sure if you’re talking about on a national level or at particular schools, but I can touch on both —
CAVUTO: Well, you want all that stuff. Someone has to pick up the tab. Who would that be?
MULLEN: The one-percent of people in society that are hoarding the wealth and kind of causing the catastrophe students are facing…
CAVUTO: Alright, Keely, so if the one-percent just had their taxes raised a few years ago back to almost forty-percent, then to pay for the healthcare law had them raised another few percentage points, then they had their deductions raised another couple points depending on the state or locality — they’re pushing about fifty-percent in taxes — how much higher do you think, how much more do you think they should pay?
This is a great moment to point out that the 50% total tax rate that Cavuto mentions is still well below the tax rates the rich paid in the era of the highest U.S. growth, in the 1950’s and 1960’s. Then the rich paid as much as 90% of their income in taxes. Cavuto makes it seem like 50% is communism, but we aren’t talking about communism here, we are talking about taking tax rates part way back to the Golden Era of U.S. growth.