I remember seeing an interview with Bernie Sanders. Bernie Sanders is a Democratic Socialist. He was asked about what type of tax policy would he like to see in America? He said he'd like to see the U.S go back to the Eisenhower era taxes. Well here's what actually happened when America had those Eisenhower taxes. "Myself, I had a hard time believing that wealthy people in the 1950s had a different attitude toward the taxman than wealthy people do today. And guess what? I was right. The rich and their well-paid accountants worked just as hard to lower their tax bills as the rich do today — harder, in fact, because failing to do so was incredibly costly. They bridled just as much at what they viewed as confiscatory taxes. And they found — or created — enough loopholes that, according to the Congressional Research Service, the top 0.01% in the 1950s paid not 90% but closer to 45% of their income in taxes." From: How a 91% rate sparked the golden age of tax avoidance in 1950s Hollywood
Actually the wealthy bought the system at everyone else’s expense. They also conned everyone with that wolf in sheep’s clothing RR.
I do not think that you can start a discussion like this without defining the term "socialist." It means something different to most individuals, ranging from Communism to Democracy. Everybody recognizes the necessity to tax wage earners and corporations to maintain the government, security, and the general welfare. The problem is agreement on the fairness in the application of taxation. It is obvious that a large number of privileged individuals and corporations do not pay taxes in this society.
Wealth gets huge tax deductions for politicial and charitable deductions. Reading about huge donations by Bill Gates, George Soros and Mark Zuckerberg. Talk of tax rates is irrelevant in light of huge tax deductables for charitable and political donations. I would like to see deductibility capped in the same way real estate taxes are capped for deductability. The cap is $10,000.00
$10,000 in tax deductions for charities in nothing. Last year Trump earned 12 Billion and payed $ 750 in taxes. Capitol Losses (On Paper) and Cayman island bank accounts are more significant.
Please don't ask corporations / millionaires / billionaires to pay taxes for roads and bridges, , fire departments, police departments , the military, border security NASA, public education, national parks, or anything else helping the middle or poor classes ,food inspections, bank regulations or ANY REGULATIONS at all-----they are way above such foolishness!! Besides it's all dirty commies that want such things!!
