We know from recent experience that marginal tax rates of 36 percent and 39 percent aren't wealth killers. I was around in the 1990s, when tax rates were at that level, and when capital gains and dividend taxes were significantly higher than they are today. And I seem to remember that we had a stock market boom, a broad rise in incomes (with the wealthy benefitting handily), and strong economic growth.Meanwhile, Cal Thomas spices up his "class warfare" arguments with some good 'ol fashioned trick-down economics.
...we also know from recent experience that lower marginal rates on income taxes, and lower rates on capital gains and dividends, aren't necessarily wealth producers. The Bush years, which had lower marginal rates and capital gains taxes, were a fiasco. In fact, if you tally up the vast destruction of wealth in the late Bush years—caused by foolish hedge funds, investment banks, and other financial services companies, it seems like the wealthy have in fact been waging war on one another.
Class warfare has costs, but not for the people at whom the rhetorical mortars are aimed.He piously concludes.
The drumbeat of anger by the many at the few who travel on private planes and live in big houses is having a negative effect on those who don't.
This isn't about politics; it is about doing what works. We know what works. The question is, will the president and congressional Democrats stop worrying about the rich and start worrying about the potential for increasing the number of poorer people?Sounds like "evil shenanigans" to me.