Higher Taxes

Elizabeth Warren  proposes "Ultra-Millionaire" tax as part of her 2020 platform. Full report here

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It's important that we raise taxes to pay for badly needed new spending, not to mention paying down our national debt. This is imperative for our national financial health.

But it was not just the wealthy that got tax cuts from Reagan until today's Trump's largest tax cut in history. These tax cuts without spending cuts is what has produced our over 20 trillion dollar debt, and climbing.

President Bush was sending out $600.00 checks besides his tax cuts on top of his high unpaid for spending. It wasn't just the rich getting those checks, or tax breaks, or the benefits from unpaid spending.

History tells us that high taxes do not inhibit growth. The last time tax rates were high we also had the greatest growth period this country had ever seen and we were able to build a great infrastructure from schools to highways and our private sector was the envy of the world.

Our tax system has always been a progressive tax system. The more you made the more you paid. Recent laws have allowed rich corporations to pay little, or no taxes and rich individuals have received the same tax breaks. That needs to change.

No matter how the tax rate for the rich change most of our taxes come from middle to lower income Americans where the majority of tax payers are. We cannot tax just the rich enough to pay off our debt and finance new spending, nor should we try. That would be more than just a progressive tax system, it would be an unfair tax system. The middle class got those tax breaks also, over the last 40 years.

The Communal Tax system that helped build the greatest country in the world demanded all pay taxes for the betterment of all the people. The progressive tax system simply stated that those who make more, pay more. This was the key to building the greatest country in the world, not just taxing the rich.

Maybe we should have a high Baby Boomer death tax rate, so Boomers would pay the taxes they refused to pay over the last 40 years which built out huge debts.

Money is what greases the wheels of capitalism and a progressive society. Everyone speaks highly of living in such a great country (America) and we cherish our civil and military institutions. It's time again, to put our money where our mouths are and regain the greatness we once had.