I remember reaganomics. If we cut taxes enough we will bring in more revenue to fund the government and reduce the deficit. I fell for that back in the day. Not interested in bringing in more money for the government.
so....you would raise taxes to keep the government from getting its hands on more revenue?
All “Reaganomics” is, essentially, is recognizing that humans adjust their behavior in response to the tax rate, so there is a point of diminishing returns where raising taxes actually reduces revenue.
Cutting government revenue to starve the beast is a noble idea, but if we are going to do that, there is no need to also punish the people by doing it with a high tax rate.