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CPT Jack Durish
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It's not like these things haven't been tried before. The problem is that we elect wilfully ignorant people who believe that good intentions trump reality
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1stSgt Nelson Kerr
1stSgt Nelson Kerr
6 y
It was tried before and worked pretty dammed well for the late thirties until the 80s
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LTC Self Employed
LTC (Join to see)
6 y
1stSgt Nelson Kerr - With big loopholes too.
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MCPO Roger Collins
MCPO Roger Collins
6 y
LTC (Join to see) History dot com excerpt, read the last part.

“By the end of the 1930s, the New Deal had come to an end. Growing Congressional opposition made it difficult for President Roosevelt to introduce new programs. At the same time, as the threat of war loomed on the horizon, the president turned his attention away from domestic politics. In December 1941, the Japanese bombed Pearl Harbor and the U.S. entered World War II. The war effort stimulated American industry and the Great Depression was over.”
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1stSgt Nelson Kerr
1stSgt Nelson Kerr
6 y
LTC (Join to see) . we have even more loopholes now.
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MAJ James Woods
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3
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The Laffer Curve which Paul Ruan and other tax cutting Conservatives pride themselves on also suggested tax cuts would increase economic revenue and jobs as businesses invest more money back into workers and workers would invest more money back into the economy. That never happens.
Anyone find it interesting the article didn’t explain why revenue of taxpayers making more than $140k went down? One more thing, the 33% top tax rate in Canada isn’t a 33% marginal tax rate. This is an argument against the top tax bracket paying more in taxes than the lower income brackets. Furthermore it’s further exemplifies how the top 1% uses tax loopholes to reduce their reportable income to avoid the 33% rate.

“It’s quite possible, as noted in the article, that some of the foregone revenue might be the result of one-time changes, such as upper-income taxpayers shifting income from 2016 to 2015 (rich people do have considerable control over the timing, level, and composition of their income).”

Our own US history has shown how high taxation of the marginal tax rate can generate significant revenue without impacting the livelihood of each tax bracket. Even Conservative economists have acknowledged this history.

https://www.mileiq.com/en-ca/blog/2018-canada-tax-brackets-rates/
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Lt Col John (Jack) Christensen
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The more money you have the more you can afford accoutants to find all the loopholes to save you from paying taxes. This will probably never change unless the tax code is rewritten to eliminate all loopholes and the odds of that are somewhere between slim and none.
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