Giving tax cuts to the wealthy during the last 10 years has not worked and will never work again. They do not do the right thing with that money, something I believe our forefathers did do, which is make all classes of people int his country better off and grow together.
People do realize that we had no federal income tax for the first 150 years of the Republic. The Founding Father "do the right thing with that money". What the hell are you talking about? There was no wealth redistribution until the middle of the twentieth century.
From 1776 to WWI, we went from thirteen, backwater colonies that most countries did not recognize to becoming the most powerful, most prosperous, and most free nation on the planet without a federal income tax. The federal income tax became legal in 1913 and was miniscule until WWII.
Could drop all the economics, theories, quotes in the world, but the eyeball test is best.
Historically, the nations with lower tax rates, less regulation and the more freedom prosper compared to counties that don't. That was the history of the 20th century, the great battle between free enterprise systems and socialist systems, and the socialists failed. A free Great Britain thrived until the Fabian socialists took over. Countries that followed the American model thrived in comparison to those that followed soviet, socialist an leftist models. Japan and Taiwan and South Korea followed the American model of free enterprise, while North Korea, China, Vietnam followed the leftist models. China is deregulating and embracing free enterprise, and they are exploding after generations of Maoism.
There are many places where the rich do pay high taxes and they suck. Even the more decent places are going broke... in Greece, Portugal, Spain, England...
In England, the top rates is 50% on income and 50% on savings for anyone making roughly over 300K in dollars. How is that working out for them? The punks and brats are still rioting, burning down family businesses. They are going broke. They have to dismantle their nationalized health care program. But the welfare classes are the majority they are throwing their hissy fits. There are more consumers than producers. More takers than makers. The youth feel entitled to get everything for free, and if they dont they riot. The tax rates you want exist in Greece. No thanks. I'll pass. http://www.youtube.com/watch?v=IjdhEvosC3I