A screaming comes across the sky.
It has happened before, but there is nothing to compare it to now.Pynchon - Gravity's Rainbow
To your second point, people would reinvest instead of paying 90% only if they could write off that investment, otherwise they still have to pay the 90%. Take capital gains, when tax capital gains you drive investors out of reinvesting..
Liberals - Punish the Successful, Reward the Unsuccessful
Liberals - Tax, Borrow, Spend, and Give Free Stuff
Obama's legacy - National Debt / Credit Downgrade / Obamacare Failure / Economic Failure / Foreign Policy Failure / Liar of the Year Award / The Rise of ISIS
Look up "abstract versus concrete labor".
Anyone who puts empiricism before rationalism is a communist. Anyone who respects hard work before working smart is a communist.
Anyone who believes it's permissible to project "use value" behind pragmatism is a communist.