Also even with 3-4% inflation (assuming it comes down from 4-5%) for the next year & bank borrowing rates are near 0, Real Return on banks (Return - Inflation) is virtually negative to 0.
As inflation rises & bank rates remain low (atleast for 2022 & 2023), it will only boost investment in equity & debt market. There is substantial money to be made there with even a small tax increase which can help to create a fairer economy - Paid Leave, Childcare, Healthcare expansion etc etc.
In the future, Democrats should look @ financial markets in a big-way, Financial Transaction tax (Equity, Derivatives, Debt) - even 0.01% can raise massive revenue without majorly damaging the market. The day it becomes 1% or 2% - It will cause turmoil. But a very minuscle amount will raise crazy just due to sheer size of the market !
Watch as the corporate Dems fight behind closed doors to ensure this does NOT happen. A lot of the more corporate democrats are reliant on money from giant Tech corporations such as Google, Microsoft, Amazon, and Facebook. None of which would actually want a tax increase, unless there's some loophole included which would allow them not to pay for it :/
