I am going to make a prediction about tax rates in the US. They are going to continue to go sideways/downward. It has been doing just that since the end of WW II. I think it will continue for the rest of my life.
Both the highest and lowest bracket have been trending downward.
The effective corporate tax rate has decreased more since 2011.
As a percentage of GDP, the US federal government has never collected more than 20% of GDP. It does not matter how high or low those tax rates go. They are capped at 20% since WW II.
President Obama and the Democrats had complete control over congress in 2008. The highest bracket went from 35% to 39%. They put the highest bracket right back to where it was in 2000. This is a marginal change if you are making a million dollars a year. Now there is a man in the white house that is clearly losing his cognitive ability. For liberty and freedom, this is a good thing. I do not like charismatic presidents. They tend to get things done. Conservatives and libertarians have complained for decades that the government does to much. Now we have a victory-Gridlock. The gridlock is due to the decentralization of information. No one can make a move without it being scrutinized. If a charismatic man like Obama, with complete control over congress, could only take the top bracket from 35% to 39%, I think we are in good shape going forward.
Further, why would the Democrats push such an agenda? In 2020, the US government financed 50% of every dollar spent. This is no more absurd than 60% or 70%. The US government borrows whatever is required. No one in the federal government gives a damn about the receipts coming in. It is inconsequential to the outlays if the US government collects 3.5 trillion in taxes or 4.5 trillion in taxes. This seems like a foolish battle to start.
Any raising of taxes will probably be marginal. I do not think any massive tax increases are coming in the near future.