Harris: "Make the Rich Pay Their Share"

By Free Republic | Created at 2024-09-28 22:02:31 | Updated at 2024-09-30 11:26:02 1 day ago

Harris: "Make the Rich Pay Their Share"
Oxfam ^ | 01/01/24 | Oxdan

Posted on 09/28/2024 1:40:42 PM PDT by econjack

Harris and this article state that the rich don't pay their fair share? Really? First, who determines what a fair share is? Fact is, there is no objective measure of fair share. Perhaps the fairest measure is that everyone pays the same rate as a percentage of income. Friedman suggested 17%, so if you make $100000/yr, you pay $17,000. If you make a million dollars a year, you pay $170,000. But, that's not how it works.

The top 1 percent paid a greater share of individual income taxes (38.8 percent) than the bottom 90 percent combined (29.2 percent).

The top 50 percent of all taxpayers paid 97 percent of all individual income taxes, while the bottom 50 percent paid the remaining 3 percent.

The top 1 percent (taxpayers with AGI of $546,434 and above) earned 20.1 percent of total AGI in 2019 and paid 38.8 percent of all federal income taxes. The bottom 50% of taxpayers (AGI of $44,269) paid 3.1% on their income.

We denigrate the rich and praise the poor? Why? It's the rich who invest in the economy, promote economic growth, and create new jobs. How many of you were hired by a poor person? I've heard stupid people say: "Bezos has too much income!" Really? If you feed, clothe, and provide a roof over the heads of more than 250,000 people, I might listen to you. Until then, sit down and STFU.

If Harris were really serious about a fair share, she's had three and a half years to do something about it and has done nothing. Harris and the rest of Congress don't mess with tax loopholes because that where their re-election funds come from. If Congress wants to point fingers, point them at yourselves. After all, you wrote the tax code and could fix it...if you really wanted to.

How 'bout this instead. Everyone pays 17%--no deductions or anything else that could distort the allocation of resource. You could file your taxes on a postcard.

If you really want to help the poor, promote a growing economy. The real objective is not your income, but your standard of living. Take a poor person's income to some undeveloped countries and they could live like a king. Suppose there are only two people in an economy. One making a $90000/year and another making $10000. In other words, the economic pie is $100,000.Now, grow the economy by 10%, so the economic pie is $110,000. With stable prices, the standard of living for rich AND poor increases by 10%.

This is even more true if a flat tax is in place.

If you think taxing the rich even more is a good idea, look what happened to England, South Africa, India, and a host of other countries who tried this approach. You drive the investors out of the country, growth stops, and unemployment increases. It's then when you realize your policies killed the goose that's been laying those golder eggs for you.

TOPICS: Business/Economy; Culture/Society; Front Page News; Government; Politics/Elections
KEYWORDS: centralplanning; classwarfare; communist; communistic; fairshare; incometaxes; kamala; pandering; pricecontrols

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Harris has no clue what's she talking about.

1 posted on 09/28/2024 1:40:42 PM PDT by econjack

To: econjack

The rich pay a far greater share of the taxes than the share of income they earn.

To: econjack

3 posted on 09/28/2024 1:42:34 PM PDT by brownsfan (It's going to take real, serious, hard times to wake the American public.)

To: econjack

She needs to make her hubby pay all of his wealth in.

Now.

4 posted on 09/28/2024 1:43:58 PM PDT by Paladin2

To: econjack

You mean the rich paying 90% of the taxes collected is not enough?

5 posted on 09/28/2024 1:44:07 PM PDT by Westbrook (.ts are wizards at two things: Finding votes and losing evidence.)

To: econjack

So how much is she paying?

6 posted on 09/28/2024 1:44:37 PM PDT by xp38

To: brownsfan

7 posted on 09/28/2024 1:45:25 PM PDT by Red Badger (Homeless veterans camp in the streets while illegals are put up in 5 Star hotels....................)

To: econjack

“Everyone pays 17%”

Capital Gains need to be adjusted for the real inflation that the gov’t has caused over the decades.

8 posted on 09/28/2024 1:46:10 PM PDT by Paladin2

To: econjack

The equal protection clause of the 14th Amendment, which Scotus applies to nearly every societal inequality imaginable, somehow believes progressive income taxes do not violate the clause.

9 posted on 09/28/2024 1:47:12 PM PDT by Jacquerie (ArticleVBlog.com)

To: brownsfan

10 posted on 09/28/2024 1:47:35 PM PDT by Red Badger (Homeless veterans camp in the streets while illegals are put up in 5 Star hotels....................)

To: econjack

Notice, nobody who says that line actually pays their fair share.

11 posted on 09/28/2024 1:47:58 PM PDT by lurk (u)

To: econjack

Typical Marxist rhetoric, where the government can whatever share it wants.

12 posted on 09/28/2024 1:48:01 PM PDT by Socon-Econ (adi)

To: econjack

I had a college professor 40 years ago who taught a class on Philosophy of Government. He was very focused a “fair” tax system. He didn’t like Progressive taxes. He didn’t like Regressive taxes. He didn’t like Flat taxes.

He liked a tax system where people (like himself) would pick and choose Who paid What. So that Bad People paid more, and Good People received more benefits. By having “smart people” make specific choices about Winners and Losers, that was the only way to be “fair”.

The Left doesn’t grasp even simple concepts.

13 posted on 09/28/2024 1:49:19 PM PDT by ClearCase_guy (My decisions about people are based almost entirely on skin color. I learned this from Democrats.)

To: econjack

If Kamala had a single original idea in her life, it would probably manifest as some sort of boil or cyst on her head.

14 posted on 09/28/2024 1:51:37 PM PDT by Attention Surplus Disorder (The Democrat breadlines will be gluten-free. )

To: econjack

flat consumer tax.
Ten dollar candy bar has a one dollar tax whether you’re a millionaire with a sugar urge or just a high schooler wanting a candy bar.
So simple a cave man could do it.

To: econjack

It’s a rare experience to watch a person who’s never had an idea of any kind in her life.

16 posted on 09/28/2024 1:52:56 PM PDT by Da Coyote

To: econjack

dems cannot define fair share or price gouging How will Harris reduce food prices at super markets with 1.5% profit margin. Trump’s drill baby drill will reduce gas prices and that of many retail items.

To: ClearCase_guy

Did he carry around a little red book of Mao’s quotations?

There’s no telling how many students he was able to corrupt.

Peach

To: econjack

trump donated his salary while he was president...

19 posted on 09/28/2024 2:05:56 PM PDT by heavy metal (smiling improves your face value and makes people wonder what the hell you're up to... 😁)

To: econjack

The same old mantra, but mentally handicapped can’t get enough haring it.

20 posted on 09/28/2024 2:06:38 PM PDT by Saintgermain ( )

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