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The New York Times article I posted calculates the math differently. For instance, the Great Depression was a deflationary period, not inflationary. In any cas
by SamBam 6y ago
The New York Times article I posted calculates the math differently. For instance, the Great Depression was a deflationary period, not inflationary.
In any case, my point still stands. Whether we're talking 10, 15 or 20 years, the wealthy hold on to their wealth. And if we ever enter a long-term recession, wealth taxes could be reversed as easily as they were enacted. But why would we? The Great Depression hit the poor much harder than it did the Rockefellers.