The former president of the SEIU, Andrew Stern, has called for the repatriation of over a trillion dollars of capital by a (temporary) repatriation taxrate of 5.25% (from 35%).
He said he had always viewed the taxrate as "temporary" and hadn't wanted to introduce it, but that he thought it was right that people who had done well in the previous period of growth "should bear their fair share".
Executive emails went on to blame the increase in the Social Security tax that started on January 1, when temporary rollbacks in the rate that were put in place during the economic downturn expired.
Still, Rangel says he won't attempt to roll back the temporarytax breaks already in the law, including the special top 15% rate for capital gains and dividends.
It was shoved back into recession partly by its own policies: an ill-timed tax increase in 1997 and the (temporary) ending of the Bank of Japan's zero-interest-rate policy in 2000.