Because all those efforts to increase taxes on the wealthy have worked so well and brought in so much more than they were assumed to have.
Check out the history of millionaire taxes in France, California, Connecticut, New Jersey, Maryland, and New York. They don’t work, and never bring in anywhere near what the politicians predict they will, so that money has already been allocated and spent and must be made up for through other “revenue streams” and that means that tax is further shifted to the middle class, because 46% of the tax filers don’t pay a single penny in federal income taxes.
Because all those efforts to increase taxes on the wealthy have worked so well and brought in so much more than they were assumed to have.
Check out the history of millionaire taxes in France, California, Connecticut, New Jersey, Maryland, and New York. They don’t work, and never bring in anywhere near what the politicians predict they will, so that money has already been allocated and spent and must be made up for through other “revenue streams” and that means that tax is further shifted to the middle class, because 46% of the tax filers don’t pay a single penny in federal income taxes.