Do you consider yourself more left or right wing?

[Chrkeller]

zorg1000 said:

Chrkeller said:

I would suspect US culture has shifted a lot since those times.  Same with human behavior.  

Richest country with 4% of the population...  strikes me as though we are doing something right.

I just worry when people, could be my interpretation, want to make drastic changes, when clearly a lot is working.

And if it helps, I think capital gains should go away.  Income should be taxed as income, source shouldn't matter.  Investment should be taxed, for everyone as ordinary income.  

What changed in terms of culture/human behavior that means we needed to have lower taxes in order to remain the richest country?

During the 40s-70s, the US was about 5-6% of the global population and the richest country so not sure how that supports that we are currently doing something right that we previously weren’t.

https://www.cbpp.org/research/poverty-and-inequality/a-guide-to-statistics-on-historical-trends-in-income-inequality

Pretty much lays out that from the mid 40s-mid 70s (post-war economic boom/golden age of capitalism), income grew at the same rate across the income spectrum. Inflation adjusted income went up about 100% for the median household along with the top 5% of households.

Since that point (Reagan/Bush/Trump tax cuts), inflation adjusted income has gone up just under 50% for the median household but a bit over 100% for the top 5% of households.

It also shows that since 1979 (Reagan/Bush/Trump tax cuts), income after taxes and transfers went up 73% for the middle 60% (middle class) while it went up 326% for the top 1% (the rich).

It’s not about people wanting to make drastic changes, it’s about people seeing that we had a system that was making life better for the average citizen and wanting to go back to that. We were the richest, strongest, most innovative country back then and we still are so I don’t see how slashing taxes over the last ~40 years has done anything but hurt the working/middle class while stuffing the pockets of the rich and causing the federal debt to skyrocket.

So I am happy to address the two bolded points.

1) technology.  back in the 50s community was strong because people went outside and talked with each other.  Today everyone is behind a screen and I think the sense of community isn't as strong, which makes it a challenge to sell community as a selling point.  

2) Honestly, I am not against adjustments.  Personally, I think all income should be taxed as ordinary income.  My issue with the left is "tax the rich."  What is rich?  How much are we going to tax them?  Honestly it comes off as Trump like to me, make claim with zero details (which isn't a plan) and claim it the best.