I literally had a dream about taxing the rich last night. And while I don’t necessarily have a firm position on tax, I think there’s more to the picture than just tax or no tax.
I believe an honest major issue in regards to tax politics in America is that majority of the people who throw their rage of attacks on the “leftist liberals” is that they don’t truly understand how tax works in America—Marginal tax bracket.
And believe it or not, there’s actually an economic benefit (called Laffer curve) to the recently quoted 70% tax on the ultra rich ($10 million+)
Look out for a future DTF post where I try to shed some more light on this entire issue.