1/ America’s tax structure today is broken.
The rich and big corporations pay far less than they used to — and ordinary people are stuck with crumbling roads, high healthcare costs, and student debt. Let’s talk about how we got here — and how we fix it.
#taxreform
The rich and big corporations pay far less than they used to — and ordinary people are stuck with crumbling roads, high healthcare costs, and student debt. Let’s talk about how we got here — and how we fix it.
#taxreform
Comments
Not on every dollar — only the part above very high incomes.
It meant those who benefited most from our economy paid back into it.
This funded highways, Medicare, public universities, and the moon landing.
It funded highways, the G.I. Bill, schools, & the biggest middle class the world had ever seen.
That top rate dropped to 70% in 1964 under JFK & LBJ — but the economy stayed strong.
But inflation & loopholes started hurting workers more than billionaires.
Calls for major “tax reform” grew louder.
In the 1980s, Reagan slashed taxes for the rich.
The top rate fell from 70% to 50%, then all the way down to 28%.
Corporations got giant cuts too.
It didn’t.
It trickled up.
The rich got richer.
Wages for workers stagnated.
Inequality exploded — and it’s been widening ever since.
They slashed public investment — in education, health, infrastructure.
They shifted power from everyday people to the wealthy few.