Liberals, because they are brainwashed by progressive ideology, are totally immune to the realistic data shown below and are oblivous to the destructive legacy of Keynesian economic policies. President Obama during a debate with Hillary Clinton, when confronted with proof of the cascading benefits to lower income people when Bush lowered the capital gains tax, said everything there is to know about Progressivism by declaring that he would favor raising the capital gains tax because of “fairness”.
It’s all about “Fairness” to them.
But it’s not fair and it’s absolutely stupid.
It fits the Progressive ideology, however, which trumps reason and defies history.
Look at 1988 versus 1980, Ronald Reagon’s economic rescue of the disastrous economic policies of the Carter progressive era.
Tax rates on income greater than $200k were lowered from 72% to 28% resulting in 10 times more taxable income and 5 times more income tax paid.