From 1941 to the 1960's we had high taxes on the rich and high wages. The taxes were invested in education and infrastructure and the high wages created consumer demand. Now we have low taxes for the rich and low wages. What is the result? 23% of total income goes to the top 1%. 70% of our economy is consumer demand. Too much money in too few hands starves the economy of demand. Stagnation is the result.
Raise the minimum wage and tax capital gains as income.
" We're going to close the unproductive tax loopholes that allow some of the truly wealthy to avoid paying their fair share. In theory some of those loophole were understandable, but in practice, they sometimes made it possible for millionaires to pay nothing." ~ Ronald Reagan
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