This idea that the tax rate reductions are a net cost to the government is a distraction.
The plain truth is that the democRATS who support higher marginal tax rates are attempting to keep the “working classes” working. A few years in the highest income brackets may be enough to sustain an individual for the rest of their lives if the government didn’t confiscate 40% or more of it.
Property taxes are the most equitable taxation in as much as tax rate(s) on a particular designation of property type, such as R-1 (single family residential) are uniform within the county and municipality. Exceptions are made for waterfront and the like. This is a form of wealth tax. Taxes are based on the assessed value.
Income taxes are a tax on the acquisition of wealth. Thus the wealthy use them to keep the newly minted money of the entrepreneur from becoming wealth. IT keeps the vulgar, uncooth working class types from invading those enclaves that they are so fond of like Aspen, Martha’s Vineyard.
Simply put, they cannot stand the competition from the bourgeois.
B U M P