It’s Time for a 74% Top Tax Bracket to Save America From Our Billionaire Problem
The secret billionaires don’t want you to know is that your pay won’t change whether taxes go up or down
It’s time to bring back the top 74% tax bracket that Ronald Reagan blew up, so average working people’s wages can rise again and we can get our billionaire problem under control. It’ll also enable America to return to the widespread growth and prosperity America saw before Reagan took a meat-axe to our economy.
When Reagan came in the office, the tax rate paid by those in the very top tax bracket was around 70%, which is why back then the average CEO in America only paid themselves 30 times what their average employee made.
If a CEO took out more money than that, the taxes on their income were so high it wasn’t worth the effort, so the fat-cats left their money in their companies to grow their businesses, develop new products, and pay their employees a decent wage.
Today, however, CEOs average well over 300 times their average workers pay and, in some industries, CEOs make thousands or even tens of thousands of times more than their average workers. How did this happen?
