My views aren't even as strong as what Jefferson laid out. Still, I've weighed in with my opinion elsewhere on this blog: raise the taxes of the top 1% to a 42% tax rate. Maybe it should even go up to 45%. Although I am offering this as my opinion, I am not entirely without any educational or professional insight on this matter. This is not really so extreme. The revenue wouldn't be for the pet products of just "one side." This is a Centrist movement really worth giving birth to.
As a reminder, taxes on the upper echelons were much higher from Eisenhower until Reagan. For most of that time, the economy was really pretty good. The stock market (which used to not be used as the main measure of how the country was doing) grew just fine. In fact, much of the action-reaction we have in society can be traced back to the 1980s, which spawned this modern extremism.
As a reminder, taxes on the upper echelons were much higher from Eisenhower until Reagan. For most of that time, the economy was really pretty good. The stock market (which used to not be used as the main measure of how the country was doing) grew just fine. In fact, much of the action-reaction we have in society can be traced back to the 1980s, which spawned this modern extremism.
The excuse Reagan used for slashing taxes on the rich was "stagflation" under Jimmy Carter. However, much of the reason for this was due to Middle Eastern policies that led OPEC earlier in the 1970s to raise oil prices to punish the US. The decades of higher taxes had, rather than creating issues, helped stabilize and lift up America's workers.
Other items from this blog, which refer to outside economists' reports, are below:
From other sources:
