The silent generation taxed themselves massively compared to the baby boomers. They had next to no national debt, and massive private and public infrastructure being built.
Today's wealthy and politically connected baby boomers cannot be bothered at all with this. They demand low taxes, stuffing the stock market with the bounty rather than starting or expanding businesses, and then charge the national credit card with all the costs of their unwillingness to contribute anything meaningful. Except maybe some halfway decent music - but that does not give them a pass for being greedy, stingy, hoarders.
At the moderate to low end of the pay scale, even 0% taxes fails to mitigate the wage stagnation problem. This really only gets fixed when the cost of hoarding becomes really fucking expensive. So expensive it's saner to take the risk on starting or growing a business, and the ensuing tax deductions that come with that (those are generally 100% tax deductible expenses by the way, with exceptions for gifts and entertainment).
Right now we don't have that. It's hoarding and credit charging time. And this bullshit tax cut proposal is even more of that.
Today's wealthy and politically connected baby boomers cannot be bothered at all with this. They demand low taxes, stuffing the stock market with the bounty rather than starting or expanding businesses, and then charge the national credit card with all the costs of their unwillingness to contribute anything meaningful. Except maybe some halfway decent music - but that does not give them a pass for being greedy, stingy, hoarders.
At the moderate to low end of the pay scale, even 0% taxes fails to mitigate the wage stagnation problem. This really only gets fixed when the cost of hoarding becomes really fucking expensive. So expensive it's saner to take the risk on starting or growing a business, and the ensuing tax deductions that come with that (those are generally 100% tax deductible expenses by the way, with exceptions for gifts and entertainment).
Right now we don't have that. It's hoarding and credit charging time. And this bullshit tax cut proposal is even more of that.