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I’m not super knowledgeable on the history of Income Tax but as you alluded to the shift of the burden being on the rich to the working class was terrible. Some of the pivotal moments to me were:The Gilded Age - Where Americans were basically rich or poor and workers had no rights.The New Deal - Reparations for White working class people to stop them from revolting post Great DepressIon.Neo-liberalism - Revocation of those Reparations for White working class people.At the time of The New Deal, taxes on the rich were > 80%, by time we got to the Neo-liberal era started by Gerald Ford, it got to 38% with Reagan. They basically gutted the treasury to make sure the rich hoarded as much cash as possible and then defunded multiple programs that helped the common man.So the result is a husk of a country…unlimited money for war and the rich but no money for Universal Healthcare, infrastructure, reparations, etc.
I’m not super knowledgeable on the history of Income Tax but as you alluded to the shift of the burden being on the rich to the working class was terrible. Some of the pivotal moments to me were:
At the time of The New Deal, taxes on the rich were > 80%, by time we got to the Neo-liberal era started by Gerald Ford, it got to 38% with Reagan. They basically gutted the treasury to make sure the rich hoarded as much cash as possible and then defunded multiple programs that helped the common man.
So the result is a husk of a country…unlimited money for war and the rich but no money for Universal Healthcare, infrastructure, reparations, etc.
