Tax Reform & Undoing the Effects of Trickle-Down Economics

Over the last 50 years of Trickledown economics, the 1% has extracted nearly $50 trillion of wealth from the working class (CBS News). Under 1970s levels of income inequality, more money would’ve gone to the workers of America’s largest corporations; instead it was diverted to shareholders and corporate executives. America should create a 1 time wealth tax to undo the upwards redistribution of wealth by taxing the stock of the top 5% to then set up brokerage accounts for every American citizen in the bottom 95%. In addition, we need a truly progressive tax system which would help minimize or totally eliminate taxes for workers at the lowest end of the income spectrum. My ideal tax system would be;0% 0-20k5% 20k-40k10% 40k-90k15% 90k-180k20% 180k-360k25% 360k-720k30% 720k-1.4M32% 1.4M-100M34% 100M-1B36% 1B & aboveOn all forms of income; ordinary income, capital gains, and corporate profits.Right now, normal working people pay more so that Wall Street can pay less.That's backwards!If we merge the Corporate, capital gains, and ordinary income tax rates together, the working class could end up paying significantly less. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit philosophicalrebellion.substack.com/subscribe