See this chart?
Increase taxes on everyone who is not in that 2 tenths of a percent or 4 percent of wealth
This is what you don't grasp. You can not just "increase taxes on the .2% of tax payers.
Taxes don't work that way.
If you increased taxes on the those earning $200K, you want to know who wouldn't pay that tax?
Warren Buffet. Again, most of his income is stocks, not cash income. He would pay ZERO of that tax.
Want to know who would? The small business owner. That guy who runs a HVAC business, who collects all the money from the business in his personal name, he's going to pay that tax.
You say, well let's increase taxes on stocks.
Ok so Warren Buffet can sell his stocks, and move his money over to low capital gains countries like Belguim, S. Korea, or even Japan. Then he still pays zero tax.
Want to know who is screwed? Pensioners, 401K, Retirees, IRAs. You people just don't grasp the reality. The biggest owners of Stock, are not the Waltons or Buffet. The biggest holders of stocks, are Pension funds, Union Funds, 401Ks, 403Bs, and IRAs.
So if you tax stocks at a higher rate, the biggest payers of that tax are still *US*, the average working people.
This stupidity, that you can 'just tax the wealthy' is bull crap.
The only way you can tax only the wealthy, is to have an actual 'Wealth Tax', and you do that and the wealthy will leave, taking their jobs and economic growth with them.
France tried a Wealth tax, and the result was people left.
The same is happening in America today, just not as extreme. But one notable is Eduardo Saverin, co-founder of Facebook. Saverin's net worth is $4.2 Billion.
Guess what Saverin did just a while before Facebook went public? Renounced his US citizenship, and now lives in Singapore. $4.2 Billion. Zero capital gains tax. 17% Corporation tax. New Business startup tax, 9% instead of 17%.
You know what Saverin is saying to you? "LOL

" He's saying raise taxes all you want. See how that works for you.