[Mick]

Some jobs are currently being maintained by the Paycheck Protection Program.  The effects of that will gradually be wearing off.

The economy has being propped up by tremendous fiscal support over the last 3 months.
There clearly needs to be another fiscal influx by the end of July or the economy will take another downturn.

In the meantime, the well-off continue to do quite well and are savings tons of money.
It might be time for the country to ask them to make more than token sacrifices on behalf of those who have lost their jobs because the well-off are saving so much.

I don't think it will be gradual.  The stimulus part of the payroll package ends on July 31 without extension by Congress.  I've heard from my furloughed employees, they're very concerned.  Five of the eight were made fully whole between unemployment and the $600/month stimulus package.  If the stimulus is not renewed, the pain will be very deep.

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Maybe it'll be worth revisiting the idea of increasing that highest tax bracket percentage again that the US has been pushing down over the last few decades.  Pursuing tax cheats more effectively and bumping the short-term capital gains tax would be fun to think about.

Based upon the Willie Sutton principle, I'd like to see a wealth tax, particularly a confiscatory inheritance tax.  Frankly, I'd rather see a wealth tax and a reduced income tax.

[Mick]

Some jobs are currently being maintained by the Paycheck Protection Program.  The effects of that will gradually be wearing off.

The economy has being propped up by tremendous fiscal support over the last 3 months.
There clearly needs to be another fiscal influx by the end of July or the economy will take another downturn.

In the meantime, the well-off continue to do quite well and are savings tons of money.
It might be time for the country to ask them to make more than token sacrifices on behalf of those who have lost their jobs because the well-off are saving so much.

I don't think it will be gradual.  The stimulus part of the payroll package ends on July 31 without extension by Congress.  I've heard from my furloughed employees, they're very concerned.  Five of the eight were made fully whole between unemployment and the $600/month stimulus package.  If the stimulus is not renewed, the pain will be very deep.

---

Maybe it'll be worth revisiting the idea of increasing that highest tax bracket percentage again that the US has been pushing down over the last few decades.  Pursuing tax cheats more effectively and bumping the short-term capital gains tax would be fun to think about.

Based upon the Willie Sutton principle, I'd like to see a wealth tax, particularly a confiscatory inheritance tax.  Frankly, I'd rather see a wealth tax and a reduced income tax.