Taxes are an investment in us
By Lisa McCormick
Taxes are the price we pay for civilization, according to great and wise American, Supreme Court Justice Oliver Wendell Holmes.
Republicans have been demonizing taxes for as long as I can remember but they have also been destroying civilization.
America had top tax rates of 70% to 90% until Ronald Reagan slashed them and sent the nation spiraling into a massive national debt. The national debt ballooned from less than one trillion dollars in 1980 to almost $25 trillion today!
Lower tax rates on the richest Americans also imposed gaping income inequality across our nation. With those 90% top tax rates, our economy was booming! Today, people working two jobs still do not have enough to make ends meet.
America had rich folks, like Howard Hughes, but we also had 65 percent of the population in the middle class. Today, one man -- Jeff Bezos -- has a net worth of $150 billion, which is more than he can ever spend, but 25 percent of Americans have been pushed out of the middle class and into poverty.
A smart, fair and progressive tax system made America strong and successful from the Great Depression until Reagan Republicans messed things up. Since implementing the Reagan, Bush and Trump tax cuts, Americans have become poor and there is solid economic evidence to prove that. When taxes on the rich were two or three times what they are today, America had a large, prosperous and growing middle class that made our nation the richest and power powerful country in the world.
Maybe it does not sound fun, but investing in our survival is a good thing. Civilization is a good thing. Progressive taxation is a good thing.