I didn’t make up a thing. I cited the history of the income tax, which had a start during the Civil War. The income exemption was set high enough, something like $3,000 when the average family was making less than $300, that only high income individuals paid anything. Later the Supreme Court declared the tax unconstitutional.
During the “progressive era” there was a constitutional amendment that made the income tax legal. Congress once more passed a bill for the income tax. The tax kicked in only for high income individuals and at a low rate, but over time more and more people got sucked into it. The rates went up too. They got as high as 91% on the top brackets. Some of this “soak the rich” nonsense helped to extend the duration of The Great Depression.
Bottom line. The “progressives” pass a tax to get their foot in the door, and then they raise them. This is a historical fact.
The marginal rates were lowered as part of the tax reform act from the late 1980s. Congress has continued to play with them since then, with enough special interest loopholes for those who could “buy a congressman.”
My point was and is that taxes, like this wealth tax, get passed with the idea that it only applies to the wealthy. Before long, however, the tax gets down to “the little people," which was the game from the start.
Like I said, I am not one of your “low information voters” who gives my vote to you based on liberal promises and lies. I know how the system has worked.
If you want call me a liar for that, go ahead, but I have set the record straight.