Raising tax rates and instituting new taxes does not increase revenue to the govt. Ever heard of the laffer curve?
“Raising tax rates and instituting new taxes does not increase revenue to the govt. Ever heard of the laffer curve?”
Unfortunately that only applies to high-end tax payers, not the lower classes that are either paying nothing, or less than nothing (as in EIC). That is why most European countries now have lower top-end marginal rates than even us, but hit the crap out of their lower classes - they know where the money is and who will be forced to pay.
(by the way, I just read today that union membership is even further down...seems like they’re still doing a great job of shutting down manufacturing here - good news to some of us)