I and others have been saying that the higher the tax rate on the wealthy the more they are incentivized to create commerce. Their profit margins grow smaller under higher tax rates so they form more opportunities to try to get more profit. Instead of profiting off of just one or a few enterprises they would need to have more enterprises in order to maintain their ambitions.
When more jobs are available, the higher the wages are for the working class as the wealthy start fighting to get and keep their hard working productive workers.
All of this and the increase in tax revenues for our local, state and federal governments to improve and upgrade our necessary infrastructures. Not only are we able to fund our schools, health care and other public works but we don't need to burden the working middle poor class with higher taxes. Because when more of us are working for higher wages our taxes on the higher wages increases to the benefit of our governments. A win/win situation for all of us and it keeps the wealthy from just sitting on their wealth in banks it instead puts that now idle capital to work.
The only reason the wealthy got their lower tax rates is because they became lazy and didn't want to work to maintain their wealth. Instead they chose to starve our governments of taxes to the detriment of we the working middle poor class. For their shameless cause they should be punished with even higher tax rates than what the last, Eisenhower, republican president instituted, 90% on the wealthiest. Keeping money circulated in our economy and forcing the wealthy to create economic opportunities is how our democratic society and capitalism/socialism economic system can thrive.
When more jobs are available, the higher the wages are for the working class as the wealthy start fighting to get and keep their hard working productive workers.
All of this and the increase in tax revenues for our local, state and federal governments to improve and upgrade our necessary infrastructures. Not only are we able to fund our schools, health care and other public works but we don't need to burden the working middle poor class with higher taxes. Because when more of us are working for higher wages our taxes on the higher wages increases to the benefit of our governments. A win/win situation for all of us and it keeps the wealthy from just sitting on their wealth in banks it instead puts that now idle capital to work.
The only reason the wealthy got their lower tax rates is because they became lazy and didn't want to work to maintain their wealth. Instead they chose to starve our governments of taxes to the detriment of we the working middle poor class. For their shameless cause they should be punished with even higher tax rates than what the last, Eisenhower, republican president instituted, 90% on the wealthiest. Keeping money circulated in our economy and forcing the wealthy to create economic opportunities is how our democratic society and capitalism/socialism economic system can thrive.
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