That was 5+ years ago... I was talking about recent comments.
Allowing who to buy votes? The Republicans carry more low income voters than the Democrats. Progressive tax rates have been in place since the formation of the US income tax.
First, our votes aren't equal. Second, the more money and stuff (homes, cars, etc.) someone has the more government resources they consume to support and protect their stuff. If you tax someone making $30,000 at the same rate as someone making $300,000 you'll increase income inequality and you'll push millions more people into not being able to make ends meet and what do you think will happen then? The world is clearly not fair and those who are fortunate enough to do very well should have some obligation to support the less fortunate. History will tell you income inequality never ends well.
Also, businesses and business owners have reaped massive benefits from paying workers low wages and relying on the government to subsidize their employees income. Funny how these same business owners complain about government spending and immigration yet they reap the benefits from both ends.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.