CBO: Trump military buildup would cost taxpayers an extra $683 billion

Wait... tax the oligarchy? That would never fly!

Taxing Billionaires would not bring in $683 Billion. The wealthiest 1% in this country are already taxed at the 30% rate or above. If we increase by 10% that rate to 40%, we are not going to end up with 683 Billion more. It's not like there is a large money tree out there that provides trillions of dollars from wealthy individuals (without also impacting the Middle Class). Once the tax hits a specific rate, tax avoidance and loopholes kick in making it increasingly ineffective the higher the tax rate. Thats where the "tax the rich" rhetoric falls apart and the Class Warfare theory also starts to crumble. You see that the tax avoidance by the rich are using the exact same tax avoidance policies the Middle Class are using. In order to block the tax avoidance by the rich you would have to eliminate some of those policies. Such as the low Capital Gains Tax rate for example. However, cutting back on the tax avoidance schemes such as Capital Gains Taxes has collateral damage in other areas of our Economy such as limiting investment and savings.