The basic premise behind the various conservative tax plans advancing at the General Assembly is the same old trickledown economic argument we’ve heard for decades: If we tax rich people and profitable corportations less, they’ll hire more workers and everything will be be hunky dory.
The only problem with this theory, of course, is that it’s a fantasy. For the latest confirmation of this hard truth, check out this report from the Economic Policy Institute which shows that CEO pay continues to skyrocket.
And also, check out the following remarkable graph based on the report from Too Much, an online newsletter from the good folks at Inequality.org:
The bottom line: You simply can’t give rich people and large corporations enough. No matter how much government slashes their taxes, inequality only gets worse.