Just tax capital gains and dividends at the same rates as income and raise the top income brackets back to Golden Girls chibi thank you for being a Friends shirt. Then cut government spending for 4 years and we’ll pay off all 20T in debt. Beyond constitutionality, these taxes are so large that estimates of the revenue they raise must take into account how they will change valuations of real property and the stock market. If wealthy people have to raise 6% of their wealth by selling their real estate and their stock, WHO will buy what they are selling? Relentless selling pressure will surely have a dramatically negative effect on real estate and stock pricing.
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The unfortunate truth is that wealthy people have most of Golden Girls chibi thank you for being a Friends shirt. It’s invested in things that have value only because there are other people with the wealth to buy them, and banks to finance the transactions. Recessions occur rapidly and dramatically when selling pressure exceeds buying pressure. I can’t reasonably say this is the 1 reason why I won’t become a multi-millionaire. But this is the 1 reason I won’t become a multi-millionaire. The US should have upheld the nuclear deal. It may not have been perfect but Iran was in compliance with it. This administration is directly responsible for Iran’s failure to continue to comply with it.