Certainly. Most of the 20th century, the top tier tax rate was set at a level that can only be described as “punitive”. It was higher than 90% to kill off the robber barons.
While I am not morally opposed to beheading rich people, we really need to go back to the tax rates we had in the 50’s. And add a securities tax, payable in shares of that security, that the IRS can liquidate slowly over time.
Has that been tried since 1790 when the french decided to behead all the rich people?
Certainly. Most of the 20th century, the top tier tax rate was set at a level that can only be described as “punitive”. It was higher than 90% to kill off the robber barons.
While I am not morally opposed to beheading rich people, we really need to go back to the tax rates we had in the 50’s. And add a securities tax, payable in shares of that security, that the IRS can liquidate slowly over time.