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this post was submitted on 07 Dec 2024
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Up until the 70s or 80s I think, in the United States, the top tax bracket was 90%.
And lo and behold, the greatest period of prosperity in American history. In the 80s, Ronald Reagan cranks it all the way down to 25%. One two skip a few, now we live in a corpo hellstate where no one can afford anything except the nobility who live in a state of extravagant grandeur many exponents removed from the common man. The correlations are obvious.
High percentage high tax brackets are not the single cure-all silver bullet for all of America's woes, but it gets us pretty damn close.
It's a start for sure. Just think of the windfall of cash that could be funneled to the DoD! Think of how much money could be unaccounted for during the audits.