"To reform our economic system, our Constitutional Republic, Biden needs to initiate the Great Reset. A confiscatory tax system is a logical place to start. Much of the money we will make, will go right back into this cesspool call government spending. We will all be indebted to a system of governance which is devoid of accountability."
This morning on a cable news shows, one of Biden's economic gurus was a guest to explain to the American people why this administration is going to tax their socks off. I listened in between getting ready for early church, so I did not hear all of it. I did however, count the times I heard the expression, "paying their fair share" (of taxes), at least a half a dozen times.
It kind of reminded me of a story from years ago. On day, as I was sitting at my desk working, the director of our group came up to me to ask a question. "Are you satisfied with how much money I am paying you?" Somewhat taken aback, I replied, "Yes sir - very satisfied". His response started me. "Wrong answer! You should always reply I am worth more. No matter how much you are making, you tell management you are worth more." With that, he left my office to have this visit with another employee. Me? I was left there, scratching my head.
The point of bringing up this story is this - how much is too much? Be it an employee's salary, or the amount of taxes someone is suppose to pay. How much is too much? The "fair share" canard this administration is using, is just that - a canard. For example, if you are married, and make about $20,000/year, your federal tax rate is about 10%. However, it you are married and make over $620,000/year, your federal tax rate is 37%. Why then, does a couple making $620,000/year need to pay 37% federal income tax, and not 10%? Ability to pay. It is fair to pay more if you make more.
But - this is what most Democrats don't realize. There is a "tipping point". How much more can we ask of couples making over $400,000 (Biden's number)? How much more before they either throw in the towel, or take their money offshore? Same with corporations. How much more can Biden raise the corporate tax rate, before they move offshore. BTW - corporations look at paying taxes as a cost of doing business. Much of the taxes they pay are passed on to the consumer in the price they pay for the goods or services.
To reform our economic system, our Constitutional Republic, Biden needs to initiate the Great Reset. A confiscatory tax system is a logical place to start. Much of the money we all will make, will go right back into this cesspool call government spending. We will all be indebted to a system of governance which is devoid of accountability.
So the questions remains, what is your "fair share" of taxes to be paid. To quote my old boss from yesteryear - "Never enough." And you can take that to the back - that is, if there is anything left to put into the bank.
I know liberals and liberal governments are totally incapable of the most basic math, but let me lay it out for you. Add up the national debt and the "unfunded mandates"--promises made to entitlements like Social Security and Medicare-- and you come up with somewhere around $120 Trillion. Now divide that by our total economy, around $20 trillion assuming Biden doesn't kill it, and you discover that we can easily tax our way to prosperity. All we need is a 100% federal tax on everybody, for six years. No other spending, by anybody, on anything, just service the debt. Some might question the feasibility of that, but hey, when has reality ever been a factor in government decisions?
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