Try explaining marginal tax cuts to a room of 5th graders.
Once, on Ronald Reagan’s birthday, I tried to explain what the top rate was like before our 40th president took office. “Imagine doing some chores for your grandparents,” I said, “and your grandma gives you $10. Then, when you get home, your parents take $7 from you. That’s what the tax rates were like before President Reagan took office.
The students immediately said that wasn’t fair.
Even 5th graders get it.
The last time the top tax rate was 70 percent was back in the days when President Jimmy Carter talked about a country in a malaise. Now, socialists like Rep. Alexandria Ocasio-Cortez (AOC) and Sen. Ed Markey want to bring that top tax rate back as part of the so-called “Green New Deal.”