How many times do we have to go through this? When France elected their new prime minister he raised taxes on the rich to olden days, 75% on millionaires. Tax revenue went down.
New York raised taxes on cigarettes from $2.75 a pack to $4.35, tax revenue dropped $80 million a year. Reagan lowered tax rates and revenue went up.
The Bern wants to raise taxes on the “rich”, what will be the results, lower tax revenue. If you agree with Joe Biden that paying taxes is patriotic, (I agree) then I guess then the over 50% of people in the United States who pay NO INCOME TAX are not patriotic.
The data is more than clear. We need reasonable, and globally competitive tax rates. Our governments need to live withing that revenue so not to have Greek levels of debt.
This is so simple, I guess that is why it won’t happen.