For most families (who earn under $200k/year or so), the extra return and/or reduction in taxes actually spur spending, which drives growth. The top earners spend less, meaning less whole-economy growth.
Personally, I don't think it's right to have more than 50% tax rate at any level, and beyond say $50k/year would say that a 20-30% tax all the way up without deductions would be better. Eliminate corporate taxes, limit corporate capital holdings requiring either reinvestment or divestment to shareholders (who are then taxed).
Simplifying and automating the system better would work better for everyone involved. But confusion keeps Intuit/H&R Block and others in business.
Personally, I don't think it's right to have more than 50% tax rate at any level, and beyond say $50k/year would say that a 20-30% tax all the way up without deductions would be better. Eliminate corporate taxes, limit corporate capital holdings requiring either reinvestment or divestment to shareholders (who are then taxed).
Simplifying and automating the system better would work better for everyone involved. But confusion keeps Intuit/H&R Block and others in business.