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xracy 2 days ago

Site looked interesting, so I was just like "what would it look like to have a top tax rate like we did in the 1950s-1980s (Before Reagan dropped it)?" [1] And the hilarious thing is the propaganda it spews without any backing of data:

>At a certain point, increases in tax rates will not raise more revenue. Once someone's tax rate becomes sufficiently high, they might work less or try harder to evade taxes. Based on existing evidence, this simulation assumes that increasing this group’s tax rate beyond your current level is unlikely to raise more revenue.

And then it pretends like the maximum amount of income you can get out of the richest 1% is $203B.

This is rich people's propaganda that we've bought into by pretending that Rich people don't need this country. But that's a lie. If it were true, they would just move, instead of fighting tooth and nail for tax cuts in every single election.

Also the breakdown of spending categories and the way they're represented are pretty clearly politically motivated, and the Numbers look a little suspicious to me. They don't even align with the CBO numbers.

Another really obvious thing missing is a "Capital Gains Tax"

Which is currently pegged to like 20%, and how CEOs get all of their income. So If Capital Gains was taxed as income, I think that would at least start to make the Income tax realistic.

[1] https://web.stanford.edu/class/polisci120a/immigration/Feder...