August 27, 2021

Fair Share?

Democrats continually say that they want everyone to pay their "fair share".  The most recently available data on household income shows that there is already a very progressive Federal taxing of households with the bottom quintile of households paying zero tax and the richest households paying 46.2% of their income as tax.  How much fairer do they want?

In fact, what would be unfair if somebody works a little harder, a little smarter or a little longer and makes a little more that they pay the same percent on the extra as everyone else.  Wouldn't it be fair to treat everyone the same?  Wouldn't it be better if everyone contributed (pay taxes) instead of developing an entire group of people that are not asked to contribute but at the same time are being promised more? 


UPDATE in 2020, with the significant expansion of credits, it is estimated that over 60% of households had ZERO net federal tax payments. https://taxfoundation.org/us-households-paying-no-income-tax/


If Mr. Sanders were to con­fis­cate every as­set of every Amer­i­can bil­lion­aire—Jeff Be­zos’s rock­ets; Elon Musk’s bit­coin; Larry El­li­son’s boats; Oprah Win­frey’s houses; Ted Turn­er’s ranches; Jay-Z’s car col­lec­tion; even the starched shirt off the back of poor Larry Fink, who tied for last place on the Forbes list, at $1 bil­lion—it still wouldn’t cover the cost of De­moc­rats’ next two leg­isla­tive plans. That’s to say noth­ing of fund­ing the gov­ern­ment’s reg­u­lar op­er­a­tions, a base­line bud­get that’s ex­pected to be roughly $4 tril­lion a year. And we haven’t al­lo­cated a dime yet to Mr. Sanders’s larger am­bi­tions, in­clud­ing Medicare for All.

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