Obama overcame the sunset provisions and made the tax cuts permanent for single people earning less than $400,000 per year and couples making less than $450,000 per year, but did not stop the sunset provisions from applying to higher incomes, under the American Taxpayer Relief Act of 2012.
What, in your mind, does “working hard” look like? Do you think the average lower- and middle-class adult doesn’t already work hard? Especially harder than they did 20, 40, and 60 years ago? Can you name a time when you think people worked harder than they do today to achieve the same level of comfort and happiness? Do you have to go all the way back to pre-agricultural times?
People in the depression definitely worked harder than people do now. Jobs were like “selling tomatoes from a cart” and “guy who sands the paint off old boxes to sell them as new ones”.
The 60s and 70s were a time of unprecedented increase in standard of living for many people in the US. You could see the Rolling Stones live for like $5, and pay for a car (in full) with a part time job. We are not going to see that again, so don’t compare life now to that.
He also owns all of the grocery stores, food distributors, trucking companies, farms, laborers, and politicians to remove safety laws and taxes concerning all of those, for a better analogy.
Trickle down is a political term. Economists know that wealth trickles up. It is only moved back down with taxes. Non-economists have a saying for this, “the rich get richer”. Economists have a formula for this: r > g
And inheritance is one of the biggest source of inequalities hence why Piketty proposes a massive tax on inheritance to be redistributed equally as a universel basic inheritance to young people. There are hard core scientific papers behind it but this is a popularized article I have found: goodmenproject.com/…/fairer-taxes-and-inheritance…
If we saturate the advertisement sphere with photos of trust fund inheritance boys in pastel rompers and bow ties we can finally put an end to this nonsense
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