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You may not like taxation but the 90s showed that it took economic growth AND a tax structure of a specific design to eliminate the deficit. The relatively high capital gains rate was perfect to turn an overheated stock market into a huge revenue generator.
Relatively high marginal rates took a share of wealth growth for the richest of the rich and higher estate tax rates nabbed the wealth transfers of the very rich. Since then, Congress has lowered all of the rates that generated the last budget surpluses.
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Cap gains tax revenue surged after the cap gains tax rate was lowered from 28 to 20% in '97. Today the cap gains tax rate is higher than the period you reference 20% + 3.8% obamacare surcharge = 23.8%. Also keep in mind that spending increased with inflation.pic.twitter.com/tfXofX1N1a
Definitely talking to you (tax dodging trillionaires). The pitch is legit to the criminal network running the majority not representing the minority
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