re: Bannon reportedly calls for tax of 44 percent on those earning over 5 million a year

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I doubt any SEC coaches would even be subject to that after deductions and write-offs.

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To be fair, if you're reporting that much in deductions and write-offs, you're spending/investing into the community.

It's why corporations are allowed to write off investments. A large corporation purchases a slew of networking equipment, computer equipment, and hires a networking firm to rewire their building.

They write off the $500k investment because they just spent that money, which means more jobs, etc.

Write offs and deductions basically provide incentive to spend money into the economy, instead of hoarding it.

It's why "trickle down economics" didn't work. Rich people could already get lower taxes by spending in a slew of areas.