CNBC: What Democrats’ Tax Plans Could Mean For Growth And Inequality

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Senators Elizabeth Warren and Bernie Sanders and freshman Representative Alexandria Ocasio-Cortez, have all proposed major tax increases on wealthy Americans. History shows that the United States has not only survived, but thrived when the rich had higher marginal tax rates. But how much would increasing rates actually raise, and what could it do to the economy? The real reason to tax might be to decrease inequality itself.

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What Democrats’ Tax Plans Could Mean For Growth And Inequality

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CNBC

Do you think the rich should be taxed more? How would you go about doing it?

John Zee

Where in all these plans is the idea the. " rich " usually defined as $ 250,000 and up , willl quietly pay some huge increase without a fight. ? And not try to find away around it ? They will

Max Covfefe

I wish, instead of "penalty," the wealthy would see it as more "leadership." Maybe their lobbies would be more forgiven if they contributed more to the intake of our growth rather than the short term benefit of tax cuts.

Beek- Art.com

people need to realize that to keep an economy going and growing, the consumers of this economy need money in their pockets to buy things, take that away and eventually you grind to a halt.

megon gon

They mention the rich would find ways to avoid paying tax, but don't mention the tried and true way they do that is by reinvestment- business, stocks, whatever- it pumps into the economy. Obviously giving it to them does not encourage trickle down effect.

Iriya

Last time Inequality was this high We had the great depression and it took FDR years to fix it. Bring back the 70s tax rate and make America Great again!

Joshuavangorden

YES!!!!! YES!!!!!

#Glenn #Quagmire

Why do you think they're rich ??? Cuz they worked hard…..

Ron McNeely

Step one: reign in government
Step two: cut everyone’s taxes and give the surplus back

HDaviator

The left blames the wealthy for the country's problems the same way the right blames immigrants for the country's problems. The reality is, that if you look at states like California that have the highest taxes, all of their problems, like homelessness, have nothing to do with taxation. For example, the reason why the cost of housing is so high is because the state makes it so difficult for developers to develop. That isn't a tax problem, that is a leadership problem. Its the same reason why a wealthy person would have more power in the first place. If a… Read more »

Sunny shah

Taxing the rich won't do anything, the rich have a huge team of accountants, economists, and lawyers to find other ways to evade paying the taxes.Plus, in USA, you are taxed annually for owning property, called the property tax,however, you are not taxed if you own any stocks and bonds.So, for example, if you own a $100,000 home, you will have to pay tax on it, but if you own $100,000 worth of stocks and bonds, you pay no tax on it.And, almost all the rich people have their money invested in stocks, bonds, and other assets which are not… Read more »

bikefixer

In the days of the 91% marginal tax rate, businesses were able to lower the rate by re-investing in their businesses through hiring and buying new equipment. Not a terrible model to go back to. The other thing that always bothers me is the man responsible for all this income inequality. It even has a name Reaganomics. The idea of putting all the money on the supply side so the rich beneficiaries could dispense it as they wished (the so-called "trickle-down" theory). What the rich did with the money was park it offshore and bank it on themselves.

laxmikant deshmukh

All poor people in comment section ARE Crying

Justin Flowers

How about more efficient government spending? All government does is spend spend spend. If businesses did this they would go out of buisness… Gov does this and just sucks more life out of its people.

FBI Loli Division

40% of the population do not pay income tax, yet the top 1% pay near 40% of the burden. And they want more?

Kent Hoover

Affective tax rate is way over AOC's head

bruce baker

Inequality is defined as Unequal. Progressive Tax Rates are "Inequality" Single's are punished for being Single, using fewer Government services, using less Company provided Healthcare while receiving pay equal to peers who have Dependents on Company Health Plans. Why????? Punishing Individuals through Taxation is wrong. Going after Billionaires is easy since they are the smallest Minority in the USA yet the "Inequality" forced on Working Class Individuals is completely ignored.

Andy Bradford

How to tank the economy