I fully agree. I don't think it's an issue that is even fixable either lest the gov't step-in and regulate how much exectuives can earn and things of that nature.
I'm not seeing how "trickle down" conservative economics are effective. The rich are getting richer, the poor are getting poorer, and the middle class is struggling.
I know little of economics, but I see what is happening to the people in my little part of the world.
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Nice theory, except the beginning of the decline of the middle class, statistically speaking, began in the late 60's, long before the cult of "trickle down" took hold. The decline has been relatively steady throughout the Clinton tax increases and the Obama tax increases.
I would suggest the popular narrative of the direct link between tax rates and income equality has having little to no correlation and that the masses are being manipulated by your chosen favorite politician to believe in a fairy tale that doesn't exist. Bernie is the poster boy in this cycle. One might ask themselves why, despite the hue and cry of those mostly on the left, has Congress done nothing meaningful in terms of increasing taxes? We might want to start thinking about the alternative that the politicians don't believe there is a link either. In fact, even if they do believe there is a link they don't want to pursue this avenue because the ramifications are too great.
Furthermore, even if the magical tax rates where enacted, whatever they may be, I would suggest their magical powers are way over rated. All additional revenue flows to the Treasury than has to be parsed out into efficient and effective programs that will narrow the gap. Good luck with that. There is a reason Buffett is a strong proponent of expanding the EITC.
Finally, the tax the rich idea makes for a nice story, but unless there is an efficient and effective program than you are simply engaging in statistical manipulation from the top down. It is the equivalent of cutting a rich person's steak in half and throwing half of it in the garbage while the starving guy in the homeless shelter is still starving. You have decreased the food gap statistically, not practically.
You and I like stories. They are easy on the brain and give us clear cut good and bad guys. The "rich aren't paying their fair share" is a nice story that appeals to our common sense. We have to accept it because the alternative explanation is very difficult to solve, mainly that the world is a much freer economically than ever before and that technology and productivity have exploded beyond the point where the average person with high school skills is irrelevant in the work force. You can raise the minimum wage all you want but you are crap out of luck whether you make 10 bucks an hour or 15 bucks an hour. If you are making this at 40 than you are already screwed. And sorry Millenials, paying $150K for a sociology degree ain't gonna work. Your parents should have known better.
Comparing today's global economy with era's past like comparing Russell Westbrook to Bob Cousy.
Washington is not going to stop the march of global economic forces. The manufacturing jobs you all dream about ain't coming back. The good news is that you young folks won't have to work in a repetitive factory environment for 35 years, smoking and drinking the the mind numbing boredom and self-esteem nature of such work away and than subsequent dying of a heart attack at 68 like most people in my Dad's generation. There is a reason my grandfather and father beat it into my generation to get a degree.
One final thought, there are no such things as tax loopholes. There are tax laws written by Congress. They are either followed or penalties will ensue. Loophole is a buzz word to get you angry that somebody is pulling the wool over your eyes and you are somehow paying a price that you would not otherwise.
Do your historical research. These same arguments have been made over the last 100 years in this country. The same stuff over and over and over and the masses fall for it each cycle. It is Lucy pulling the football away from Charlie Brown. They want you to think that if "you just vote more me" I am going to your life better and make all your hopes and dreams come true. Sorry to burst your bubble, but if you wait for the Washington crew to make the world a better place you will be like those angry 70 and 80 yr old voters turning out for Trump and Sanders.
