A quick history lesson. From 1940-1980:
•Wealthiest paid 70-94% marginal tax
•0 of them went broke from taxation
•0 of them left USA
•All remained exceedingly wealthy
•Manufacturing boomed
•The middle class was 62% of US economy (It's now 40% post 'trickle down scamenomics)
•We had the strongest middle class growth in US History
Let's do that again. Stop protecting billionaires. Start taxing them.
#TaxBillionaires
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I agree, Qasim.
I recently wrote a short thread on the development of the #US income-tax rate:
https://mastodon.social/@HistoPol/109976532688427491
However, in order to bring the income distribution back to normal, an overhauled inheritance tax, focused on the super-rich, is of the essence to save democracy.
#Montesquieu knew and said so in his 8th book:
"The corruption of each government generally begins with that of the principles."
"When once a #republic is #corrupted, there is no..."
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"...possibility of remedying any of the growing evils, but by removing the corruption and restoring its lost principles: every other correction is either useless or a new evil."
Qasim Rashid, Esq.
HistoPol (#HP) 🏴 🇺🇸 🏴