this post was submitted on 28 Feb 2025
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United States | News & Politics
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The only way to actually win the class war, as opposed to just fighting it, is to raise the tax rates on billionaires back up to 70% or higher. And in order to do that the GOP has to lose elections. If billionaires knew that, no matter what else they did, their tax rates were always going to remain at 70%, they wouldn't put nearly as much effort into screwing over normal people.
Well you can't win a war until you start fighting it. Do you understand why the wealthy accepted those high tax rates in the first place? They did so only because they thought the alternative was much worse.
I'm just saying that there is a way to win the class war outright. It doesn't have to be a war that is always fought and never won. Previous generations ended the Gilded Age for the rest of their lives by winning the class war and creating 90% tax rates for billiionaires in the 1950s.
Because Dems controlled both houses of congress and the presidency when the 90% tax rates on billionaires were put into place. Nixon got them lowered to 70%. Reagan lowered them to 50%. Bush and Trump lowered them further. So it matters hugely who controls congress and the presidency.