What if I told you that everything we have been taught about US economics is wrong? Before your eyes start to glaze over in anticipation of boring economic jargon, let me acquaint you with 5 simple facts that might just wake you up.
While economics is a very complex subject and rarely does a single factor directly cause a single result, experts mainly agree that drastically reduced top marginal tax rates are associated with higher income inequality.
Higher taxes on the rich are a means by which to slow the process of the accumulation of wealth. By slowing the process of accumulated wealth, higher top marginal taxes increase income equality.