JJensenJr's blog
I disagree that Trump's tax plan will, in reality, be a benefit for all. The proposed tax plan is classic "Reaganomics", huge tax cuts for the wealthy and businesses and the money will trickle down to the middle/lower class. While this does sound nice in theory, it hasn't ever worked in practice. What usually ends up happening is that the lack of taxes being paid by those can afford it has to be made up somewhere, and that somewhere usually ends up being from those who cannot afford it or barely afford it. This ends up in the hoarding of wealth in the top bracket and systematic pressure/elimination of the mid to low bracket.
This sort of tax proposal is the exact reason why we have the amount of disproportionate distribution of wealth that we have now. A better tax system would have those that can afford taxes being taxed at a higher rate and those that cannot afford taxes being taxed at a lower rate. This promotes growth in the mid to low class and establishes a market in which large businesses and the wealthy cannot hoard 80% of the nation's wealth. This type of system proved to be effective during WWII and post WWII in which the wealthy were taxed at an outrageously high rate with a booming workforce. Obviously, the situation is not the same now as it was in the 1940's, but the same system is likely to even out the wealth distribution as well as relieve pressure from the lower tax brackets.
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