Mastodawn

Dave Johnson Jan 20, 2023

I'm older so I remember things. Everything you see happening today should be understood this way:

The top tax rate used to be 90% in order to prevent the really rich from destroying democracy.

The corporate tax rate was 50% because corporations exist to serve society.

AND the inheritance tax was really high to keep family dynasties from gaining power over us.

#taxes #democracy

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cinematicenthus

@dcjohnson yes! I'm so glad you mentioned this. I grew up with my grandparents who ran their own business from the 1950s-90s. They constantly told me about how high the tax rate they paid.
Also read books correlating higher tax rates paid by the wealthy prevented severe income inequality. Sure enough, we've gone from 90% paid to barely 20% paid and we wonder why the middle class has to bear the brunt of income inequality.