Soak the Rich? Or Get Our Wealth Back?

[1StrongBlackMan]

25. I think the problem is framing ...

and the tactics presented to address that frame. For example:

The rich discovered it was easier to buy some Congress-Critters, get the restrictions lifted, and steal from the middle and lower classes. This was not growth.

I completely agree; but, the framing of the problem is far too general ... and, more problematic, the solution being proffered is raising taxes or the wealthy and/or corporations. That solution does not directly address the framing of the problem, i.e., the removal of regulations that allow for the looting of the middle and working classes - or, at best, the proffered solution is three (or more) steps away from the problem.

Now, raising taxes will, in fact, reduce the money that the wealthy have to influence the laws that lead to the lifting of the restrictions, that allow for the looting of the middle and working class. All that is true; but, who among the disengaged electorate is going to follow the logic?

Likewise, raising taxes on the wealthy and/or corporations is equidistance from "promoting growth", i.e., raising taxes will, in fact, reduce the money that the wealthy have to influence the laws that lead to the lifting of the restrictions that allow them to sock money away off-shore, rather than, invest it in job creation. All that is true; but, again, who among the disengaged electorate is going to follow the logic?

I agree that infrastructure investment is an/the engine for growth; but, taxing the wealthy and corporations is the wrong framing for attaining that goal. Yes, we can promote increasing taxation, then lobby for the bought and paid for Congress that we lament to allocate that tax revenue to infrastructure investment (I.e., repair projects). But that is widely seen (and spun by the wealthy) as confiscatory, even among the middle and working classes.

Wouldn't the better strategy be to create tax credits for infrastructure repairs investment? Yes, it could very well have the effect of lower the effective tax rate for the wealthy and/or corporations; but, so what ... the revenue would flow into domestic infrastructure repair, and not off-shore bank accounts. And that investment will create jobs, which creates demand, which creates more jobs.