Anybody Remember Ronald Reagan?

Reagan took the voters aside on TV and explained things. Like the progressive tax. This is the idea where taxes are progressively higher, the more money you make. It's easy to tax the rich because it doesn't affect voters now. But add inflation and your income goes up, so does your marginal tax rate. This country is going to need runaway inflation just to break even and get the deficit under control and when that happens, a lot more people will be in the "tax the rich" tax bracket. Only they'll be in the middle class.

It's easy to vote for "tax the rich" when inflation is low. But low inflation cannot be sustained with these costs.

"Tax the rich" has three major problems:

1. One form of it is "Tax the corporations". This really taxes everybody, since in order to maintain adequate profit margins, these corporations immediately must raise prices to cover these costs. It equates to taxing everybody. By taking in more money, the rich corporations are momentarily richer (until they pay taxes) while the poor get poorer (paying more).
2. What does taxing rich individuals do? Does it kill the incentive to be industrious, encouraging more people to give up the American Dream and settle to the bottom of the food chain? Or does it encourage the wealthy to yank more wealth from the companies, taking it away from the little guy? I'd say it does both to different individuals. And thus helps create an ever growing disparity between rich and poor.
3. The long term effect is the progressive tax, where more people eventually get taxed at the higher rate.