Each year, our debt interest and deficit spending pile on more national debt. This is unsustainable. Congresses past and present, are responsible for creating our national debt. Reducing expenditures to reduce and eventually eliminate our national debt must be coupled to any tax reform IMHO. Keynesian economics have led us to financial instability and it's contributing to the demise of the nation. There is no free lunch!!
"Woe to those who are wise in their own eyes, And prudent in their own sight!" - Isaiah 5:21
Agree but offshoring, zero tariffs and "Free Trade" have decimated wealth creation and we run $800B/yr deficits in trade alone. American is being screwed form all sides while the globalists make a pile of cash.
The problem with comparing marginal tax rates in the 40s-60s vs today is back then you there were so many deductions and loopholes that the effective tax rate of the rich was in the low 20% - just like it is today. In other words, basically no one paid anything close to that. In fact the equiv of today’s millionaire was almost as likely to pay 0 income taxes as there was no AMT.