The wealth disparity in the US is the widest in the world. We KNOW corporate subsidies and tax breaks do not benefit the middle class or poor on any significant level. It's simply a myth they would choose to invest the extra money into lower level work forces. Why pay the fast food worker more if republican policy allows the fat cats to just keep the money they save from tax loopholes or meat subsidies? No point in that for them. There is no incentive.
"Under this legislation," the
proposal noted above a list of billionaires in America, "the families of all 657 billionaires in America who have a combined net worth of over $4.26 trillion would owe up to $2.7 trillion in estate taxes."
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I have never understood why some people who pay less income taxes than their neighbor, would demand that the neighbor pay more.
About half of Americans pay no federal income tax at all; the rest of us pay it for them.
The richest among us tend to pay the most taxes, generally about 27% for the top 1%. They pay so much more than most of us do. Personally, I am thankful and wish them even greater future success, but I do pay a tidy sum of taxes myself.
To answer your original query:
This wealthiest among us owe us squat. They can take their money and run after firing everyone.
But instead, they make more money by continuing to employ people who buy homes and other things, paying property, sales, social security and other taxes, while these employers are paying similar taxes themselves.
The wealthiest among us pay most of the taxes, and that pays for most of the operations of the government, including schools, roads, law and order, defense, energy, etc.
Demonizing the successful has to stop. We need to encourage success. Everyone would love to be successful. Everyone can be, if they strive to do so, every day.