A large majority of Americans want a marginal tax increase on the rich and a wealth tax.
No, conservative pundits you are lying- the government will not take 70 cents out of the first dollar you earn. After your annual income reaches $10 million dollars, then the new levy takes effect. And it is still low compared to historical levels of the last century.
During President Eisenhower's administration, the interstate highway system was built.
Now we can't maintain it. Contained in in the long roster of ignored policies, a vast majority of the country wants infrastructure repair.
Unrepresentative Policy of the Week
Increasing Tax Rates of the Wealthy (75%): The mainstream media has recently been aghast at proposals to raise top marginal tax rates from Congresswoman Ocasio-Cortez, and to tax high wealthy individuals by Senator Warren, and then shocked at the overwhelming support the public has had for these proposals. Recent polling
shows that 59% of Americans would support raising the highest tax rate to 70%, and that 61% of Americans supportSenator Warren's wealth tax on estates above $50 Million!
This support is nothing new, and media organizations and politicians have no excuse for this ignorance. For years nearly 3 in 4 Americans have felt that the wealthy pay too little in taxes
.
Even more outrageous is the seeming ignorance of historical context in American tax code many of these individuals possess. The highest marginal tax rate from the late 1930's through the late 1970's was above 70% and during the "golden age of capitalism" in America was above 90%! Yet the wealthy did not all flee the country, and we did not collapse into totalitarianism. In fact, it appears that more equitable pie sharing, and lower incentives for extreme incomes increased business efficiency and growth!
Let's get back to that "golden age," this time for every American.
Let your representatives know this issue is important to you, contact info can be found at: https://www.house.gov/representatives/find-your-representative
And what else can you do to show our collective power?
Don't Shop on Tuesdays.
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