this post was submitted on 29 Mar 2025
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Your comment is a bit misleading. Part of the point of why we need to raise the top marginal tax rate to 100% above $250,000 is because the accumulation of wealth is itself a threat to liberty and democracy. The New Deal was designed to save capitalism—the grand irony being that capitalists are so greedy they can’t even live with less in order to simply exist.
So yes, we need to raise all sorts of tax rates to previous levels and even higher when possible, no question. We just need to understand that these are guardrails on the way to socialism in order to have real freedom and democracy after capitalism is fully abolished.
I said that the cutting of corporate taxes was part of the rise in CEO compensation that led to us having oligarchs.
That’s accumulation of wealth. There is nothing misleading about what I said. Both can exist at the same time, but cutting the corporate taxes is by far the greater loss to federal tax vs the relatively few billionaires.