Part 5/7:
An illustrative example is provided with Detroit’s experience. Despite increasing city income taxes, revenue declined—demonstrating that higher taxes do not necessarily yield higher income for the government. This point was underscored during a 2008 interview where Charles Gibson questioned Obama about raising taxes on the rich. Obama responded that it was a matter of "social justice," revealing that his priority was political gain over economic rationale. The implication here is that policies aimed at demonizing the wealthy—regardless of their economic consequences—can serve political purposes but may lead to detrimental economic outcomes.