Franklin Delano Roosevelt brought in a graduated income tax because the rich were holding on to money resources that could have grown the depressed economy. His theory was to put people to work, and fairly distribute the nation’s wealth.
In spite of the perverted twist that Republican elites put on this historical graduated tax, a wise nation will build on this economic theory today. Assuming that the federal government could transform itself from greed-centricity (a BIG leap in illogic), using taxes on the rich to establish millions of small business garage-shop industries is the only way to prevent total economic collapse.
It’s not the national debt that’s crippling the country. Taxes on the upper 10% rich could pay down the debt in a short time. We need to empower people at the bottom with tools they need to participate in democratic industry. And it’s government that needs to “provide for the general welfare” by diverting revenue from bankers & multi-billion $ industrialists to getting “WE the PEOPLE” back on our feet.
Priority one is to train the poor & unemployed in technical skills – machining, welding, craftsmanship. This can’t be accomplished in contemporary colleges & universities, but rather in trade schools, online instruction & community workshops. The goal is to create new low-cost, high-value industries, and stem the tide of generations drowning in debt.
Once trained, and armed with tax-free small business funding, this nation could become a global force in a new democratic economy. – The final step will be to abolish ALL taxation!