I have changed my libertarian opinion on tax rates. It seems the oligarchs have been causing too much mischief with their billions.
Because of this the top bracket should be 75%.
The goal is to free up more money to spark innovation, business growth, full employment, and massive new federal tax receipts.
Some folks make a massive mistake by saying the corporations or wealthy should have a tax increase.
What they fail to realize is that both the middle class and wealthy/corporations get tax cuts the economy will be jump started all the more.
If middle class tax cuts are offset by raised taxes to the wealthy/corporations, there will be a net gain of $0.00. No new growth. No new jobs. No increased federal tax revenues.
What part of this is so freaking hard to grasp?