IF YOU REALLY WANT universal prosperity, (and absolutely insist on having an income tax in the first place), what you should do is turn the tax brackets upside down. Put the highest percentage taxes on the LOWEST earners. Each time you go up a bracket in income, your tax percentage bite gets smaller. The absolute figure grows, of course, but the percentage goes down.
Then stand back. People’ll be getting rich so fast it’s not funny.
And even those too lazy to try will benefit, because — as JFK said — a rising tide lifts all boats.