This is about wealth and capital gains taxes. The US has never had a wealth tax, and as the article you linked states capital gains has had special treatment since 1922 which Biden wants to end. We all know productivity has declined since the 1970s but it’s kind of ridiculous to claim that lower income tax rates caused that.
The past was more highly taxed than now, and yet had greater productivity.
https://www.milefoot.com/math/businessmath/taxes/fit.htm
So, that needs to be explained.
This is about wealth and capital gains taxes. The US has never had a wealth tax, and as the article you linked states capital gains has had special treatment since 1922 which Biden wants to end. We all know productivity has declined since the 1970s but it’s kind of ridiculous to claim that lower income tax rates caused that.
I didn’t say it did. I presented the facts.