Maybe. If it discourages investments, it may be overall bad for our economy. There are intangibles in increasing, or decreasing, taxes.How does a higher tax rate for the wealthy help the economy?
Raising Revenue is good, We also should cut Expenses at the same time
and staring with the 1% makes sense.
Just look at the tax loopholes the Democrats closed in the last four years of the Reagan administration.
Sure, for a few years it brought in a little more revenue but then it caused the Bank and S&L debacle of the early 1990's. So, in the end, closing loopholes (increased taxes) actually ended up with less taxes coming in after a year or two.
You do know what an intangible is, don't you? You can prove that the more alcohol you drink, the more likely you are to be involved. You can use something call statistics.
But do you know that people who drive about five mph over the speed limit are LESS likely to cause an accident than people who drive five mph UNDER the speed limit? It is not the difference in speed, it is the type of person that is more likely to drive slower. Like DRUNKS!!!