Kathryn Anne Edwards

Sure, so we need to restore some of the marginal rates for the top of the tax bracket and then reduce deductions.

That doesn't even involve major tax reform, just to reduce the amount of deductions that people get.

Yeah, bring the tax rate up.

And then, you know, people, this idea of a wealth tax, we have a wealth tax in the U.S., it's the estate tax.

We don't tax wealth until you die.

And we've cut that tax four times.

So I don't think we need a new tax on current wealth.

I think that restoring the estate tax to even half of what it was in 1999 when we still had rich people in an economy would generate an incredible amount of income because you would mainly be taxing like the Jeff Bezos juniors of the world.

and they'd still get all their money.

They just have to put a little bit of tax in on some of the money that they inherit.

Those are very easy fixes in the sense that they don't hit that many people.

But the reason why I say we have to do all of them is that people at the top are incredibly good at shifting their taxes around.

So you have to—this is like left hand, right hand.

This is putting Congress to its intellectual limit, but they have to know what the other one is doing.

So if you change the estate tax and the step-up basis, you have to change the marginal tax rates at the top, and you just need to make sure that you do them so that they're coherent, and they cohere with the capital gains and corporate income tax.

So you think of it as like—

I think politicians like to jump after one part of like, let's have a wealth tax.

You know, let's do this.

But really, you need to come up with like a top 10% tax schema that doesn't look at just income, just death, just capital gains, or just corporate taxes, but all of them together.

But I don't think that that's that hard, I guess is my point.