It is because personal income tax should have never existed. Nor should have taxes on primary residence. These are the most regressive taxes possible, it is basically serfdom.
replyCan you explain this? I think consumption taxes are the most regressive taxes possible because they are "flat" and thus affect lower-income people harder.
replyMarginal income taxes are regressive now in the sense that folks with more wealth have far more resources to avoid paying them, but otherwise the reasoning seems less regressive than a consumption tax (e.g. VAT)
It's undesirable by the companies, but it's not impossible. There's this constant talk about "Making American Great Again (Again)", but not much talk about the economic conditions that made America Great. Like high corporate tax.
replyThat's half the battle. The other half is closing all the loopholes and making stuff that used to be illegal, illegal again (e.g. stock buybacks).