'Trickle-down Economics has never worked' Biden declares in his Address to Congress. Is he right? Is 'taxing the rich' a winning message for the Democratic Party?

It's EASY to shout tax the rich, it's HARD to have nuanced discussion on whether or not rich people are paying their fair share of taxes on EXISTING tax rates, and how the system can be improved. And what are we talking about, raising corporate taxes rates? personal income rates? The problem has forever been people not paying existing tax rates, not rates not being high enough on rich people.

Also the rich do already pay a lot of taxes. Something like the top 1% pays 50% of the taxes. And only the top 1% actually give more to the system than they receive back, the other 99% actually take more money from the system than they put in. I think buzzwords like trickle down economics get people riled up. It's catchy and sounds like some dumb idea that easy to hate on. In reality NO ONE is saying give money to rich people and hope they give it to poor people. I mean it would convenient but that's not reality.

A lot of the major problems affecting the general population with areas like university (student debt crushing a lot of people) and medical being out of control, and these are heavily regulated industries.

Also the other problem with the taxing the rich theory is that rich people will just move to other countries/states. They are not just going to sit here and give up their money like people think is going to happen. I think a much more accurate depiction of what the right thinks economic ideals is that rising tide lifts all boats sort of mantra. It's not about how much more stuff one person has than another, it's about how much stuff a person has under system A and how much stuff they have under system B. That's what really matters, anything else is just jealousy.

/r/PoliticalDiscussion Thread