I’m not just being inflammatory. I can even defend my position from several different perspectives.
The top 50% of income earners pay more than 96% of the total income taxes in the US. The number of “rich” who also find ways to legally dodge their tax obligations also dropped to less than a tenth of 1% from it’s high of… three tenths of 1%. The fact is, a vast majority of people middle class and above pay their taxes, and the top income-earners pay the biggest portion of the entire take the US steals each year.
People earning just $108,000 per year (not really rich by any modern definition) pay 71% of ALL taxes paid in the US. Think about how nuts that is. By comparison, the bottom 50% of Americans pay an average of 2.99%. So to reiterate, the top 1% in the US pay 40% of all taxes while the bottom 50% of taxpayers pay less than 3%.
If we’re going to have a progressive tax system, then by all means we should also have a progressive voting system. Why should a guy who pays nothing, or a few hundred dollars a year, get the same amount of voting power as the guy who pays 39% amounting to tens of thousands per year. Keep in mind as you read this, I paid over $20,000 in taxes each of the last two years, just to the feds, and I am NOT rich. I don’t really like the idea that the guy that lives next door to me pays $400 a year in taxes and I pay $20,000. And his vote cancels mine out.
The left talks about fairness, but there’s nothing fair about that…
Now, let’s leave aside the topic of taxes for a moment. Do we want people who can’t even manage their own lives enough to make money running the country? Or do we want people who know how to make things happen running the country. I’d take Bill Gates for President long before I’d take Joe Sixpack who digs ditches for a living. Isn’t that just logical? Or am I biased because I’m so “rich”?
But Incredipete, you’re saying… how can we let some entitled brats whose daddy made a lot of money be in charge of things. Most people didn’t earn their wealth, right?
Of people with at least $500,000 in free capital (cash they can do anything with), 69% earned the money themselves, while only 6% inherited it. Chew on that for a minute. Does that dash your closely held beliefs? I hope so.
Some people are poor (or not rich) because of well-thought-out plans, like working for a non-profit or staying at home to raise children. Most people that aren’t rich, however, aren’t rich because they are unwilling to make the sacrifices necessary to make a lot of money. Right or wrong, that’s reality.
Small businesses account for 64% of all jobs added in the last 15 years. Small businesses are mostly considered pass-through entities. In other words, if the company makes $250,000, by default, the owner is considered “rich” by the Obama administration. In reality, if a small business makes $250,000, they are going to add jobs, buy needed equipment, etc. I’ve never seen a rich small business owner. Ever.
Warren Buffet thinks the rich should pay higher income taxes. Not surprising since he only takes a 1$ a year salary. He earns all of his money from investments… and that tax rate isn’t changing. Before you believe what you hear… check it out. Chances are “rich” people aren’t really supportive of higher taxes for themselves. That would just be…