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[quote=Anonymous][quote=Anonymous]Actually, I read another MAGA-focusing thread further down, and realize that as government programs get destroyed, we have a chance of shifting things from a FOX-induced culture war to a mutually beneficial class war.  TAX THE RICH.

Most people have no idea what the tax rates were pre-Reagan.  Most people also give little thought to the infrastructure and natural resources that disproportionately benefit corporations— while being disproportionately funded by individuals paying federal, state, and local taxes, sales taxes, and even tolls.  TAX THE RICH.

Maybe there is one out there already, but a public gathering with AOC, Bernie Sanders, Warren Buffet…. as our public institutions crumble would attract a lot of support, and represent a lot of potential power.[/quote]

Prior to the 1986 tax reform, individuals could deduct a lot of living and investment expenses.  So while the tax rates were higher, the tax base (i.e., gross income less deductions) was lower.  The 1986 changes eliminated a lot of gamesmanship by eliminating individual deductions and reducing the rate.  The rich would absolutely NOT care if you raise the rates back to pre-Reagan era tax rates IF you also give them back their deductions.

Also, US tax policy is a mess because its the only financial tool the US has / uses to advance a whole host of fiscal policies.  Two points you might want to consider: (1) do you want to incentivize foreign-investment in the US and, if so, how will you do that, (2) do you want to incentivize investment in assets located in the US (e.g., plants & machinery) and, if so, how will you do that, (3) do you want to incentivize employment of individuals within the US and, if so, how will you do that, and (4) do you want to the US to compete globally to retain high-net worth individuals and their assets in the US and, if so, how will you do that?  In a world where the rich can move to the UK or Singapore or Canada or wherever gives them a good deal, how does you tax policy prevent capital flight?[/quote]

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