Clay summarizes the perspective very well. Today, the Top 5% pay 60% of IRS collections. US is headed towards having them pay 80% of taxes collected and borrow the rest. .Take a page from the history of Unions muscling Business to the point factories are outsourced overseas and the Union’s children are jobless and Michigan has ghost towns. Push too hard, and the rich will move their tax shelters around and IRS collections will drop like a rock and the National Debt will sky-rocket. Around the corner will be the US $Dollar Devalued.
Clay summarizes the perspective very well. Today, the Top 5% pay 60% of IRS collections. US is headed towards having them pay 80% of taxes collected and borrow the rest. .Take a page from the history of Unions muscling Business to the point factories are outsourced overseas and the Union’s children are jobless and Michigan has ghost towns. Push too hard, and the rich will move their tax shelters around and IRS collections will drop like a rock and the National Debt will sky-rocket. Around the corner will be the US $Dollar Devalued.