This video officially states that the White House has ZERO interest in helping you, but want to punish rich people to make you feel better about making things "fair."
What was the justification that millionaires pay at least 30% makes it fair? How do you come by that number?
I love how he uses the fictional character Will Bailey as a reference for pointing out that the concept of the progressive tax system has been around more than a century. That is not an argument for the merit of a system. Dictatorships and slavery are even older. Is it okay to support those concepts if a fictional character points out how long they have been around?
If you watched the LearnLiberty.org video you might have noticed that their numbers look a little different. The White House puts the 1960 high tax rate at 50%. LearnLiberty.org puts the number at 90%. Who was right? Wikipedia says 89%. The White House chart is wrong. Was the truth a bit too scary to show? And why is the fact that tax rates going down is the wrong direction? Should they only go up?
Is this really all we are going to get from this White House is class warfare? Someone is doing better than you. Let's punish them.
Pathetic.
Progressive taxes are all about rewarding some types of behavior and punishing other types of behavior. If the tax system were actually "fair" we wouldn't need 60,000 pages of rules defining the tax code.
ReplyDeleteFurther, progressives are happy to talk about the tax rate that people pay, but they don't like to discuss the relative amounts of taxes that people pay. The top 1% of income earners make about 20% of all income, yet they pay almost 40% of all taxes. The bottom 50% of income earners pay about 3% of the income tax bill, yet they want the rich to pay more.
It isn't fair, and it isn't right.