It is vital that taxation be fair and equal to all within any successful state. 18th century France and Spain demonstrated the effect of powerful kings being unable to challenge their Aristocratic citizens and tax them adequately, so instead fell heavily on their poorer common subjects. This submission of the state to the wealthy that we see even today is a hallmark of a decaying state.
Tax Rates do not need to be changed in most cases, instead loopholes and taxation efficiency needs to be improved.
This essentially means the end of corporate welfare and concessions which have built up over time due to the influence of interest groups on the legislature.
Not only that, but the availability of tax havens and intricate multinational taxation arrangements means companies like Apple were able to be taxed a mere 2% on their itunes revenue in Europe. No normal citizen could get away with a 2% tax rate, the fact that wealthy individuals and multinationals can means we’re losing billions upon billions in revenue every year. Not only that but a great many of these companies benefit greatly from what is charitably called ‘Corporate Welfare’.
Taxation inefficiency and inequality is also a huge drain on developing economies, which has considerably slowed the development of the third world, trapping hundreds of millions in poverty.
This also means having a state powerful enough to challenge those major companies and corporations. Something the US government failed to do after the most expensive recession in history in 2008 due to its weak governmental structure that made it impossible for it to punish those responsible. The interest groups have such a hold on the legislature that efficient and straightforward punishment could not get the support it required.