Let’s be clear …
In 1953, the year billionaire Howard Schultz was born, the top marginal tax rate for ungodly wealthy people like him was 92 percent.
In 1971, the year he became an adult, it was 70 percent.
It stayed at that level while he was “realizing his dreams” throughout the ‘70s, until 1982, when it dropped to 50 percent.
In 1987 it dropped to 38.5 percent before hitting a low of 28 percent in 1988, and it’s fluctuated between 28 percent and 39.6 percent for the past 31 years.
There’s nothing “unrealistic” or radical about anything Elizabeth Warren or Alexandria Ocasio-Cortez is proposing on taxes. What’s radical is allowing billionaires like Howard Schultz to gaslight us over a progressive tax system that worked just fine for 50 years before Ronald Reagan unwisely shifted the paradigm.
Guess what? We’re shifting it back.
And we don’t need an out-of-touch billionaire to money-splain tax and fiscal policy to us.
Go home, Howard Schultz. You’ve had too much vanilla syrup.
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