Since liberals continue to say the Top 1% aren’t paying their fair share of taxes I decided to write about the topic. The Top 1% are already contributing close to 50% of the tax revenues so saying they’re not paying their “fair share” is confusing. The Top 20% (income of $130,000 on up), pay 84% of the tax revenues and close to half of Americans don’t pay any taxes yet receive benefits from the government. Have you ever heard a liberal who says the top income earners don’t pay their fair share provide proof of their claim?
If someone makes over $600,000 in income then they’re part of the Top 1%. On average this group makes around $1 million but much of their income comes from capital gains from investments and not just their jobs; meaning that unless we increased the capital gains tax, increasing their income tax won’t make much of a difference. If we did double the capital gains tax like many liberals want to do, then a lot of money would leave the stock market sending it crashing.
I’m not a major player in the market but I’d certainly pull my money out if the capital gains tax was doubled. Major investors could very easily move their money to other investments outside of the stock market (even to other countries), that would minimize their tax exposure so chasing them around to squeeze even more money out of them is going to lead to exhaustion with no positive results.
The Top 1% already believes (and the facts back them up), that they’re paying more than their “fair share” so I’m sure they’d do everything they could to make sure the Federal government didn’t get a dime more out of them and they have the financial experts who would know how to make this happen. The fact is their money is already working for our economy through their investments in businesses (stock market), around the country thus creating jobs and increasing tax revenues at a variety of levels (i.e. federal, local, state, etc.).
Liberals try to make it sound like these rich people just hoard their money when the reality is that they get rich because they don’t hoard their money but instead put it to work for them (and us). Once again these Democrats don’t care about the truth and are willing to divide people in every way they can; in this case it’s easy to convince the poor that the rich are getting away with cheating the system when this isn’t true.
I’ve mentioned this before, but even if we increased the Top 1% tax rate to 80% it wouldn’t be enough to pay for any additional programs like eliminating college debt or providing free college. Anyone who says it would is either lying or just doesn’t understand economics (which a lot of young people don’t). I’m assuming that politicians in the Democrat Party are very aware that the Top 1% won’t solve our problems but use it anyway to mislead people and get votes. This clearly reflects that due to selfish ambition they’re willing to divide our country. These are our representatives and yet they’re the most un-American citizens we have.
One last point that I’ve mentioned before and that is any celebrity who is pushing for increased taxes on the rich doesn’t have to wait for the income tax bracket to be raised, he or she can write a check to the IRS anytime they want. The IRS gives us the minimum we are to pay, they don’t provide a maximum. If these liberal celebrities really feel guilty about not paying their fair share of income taxes they can step up and write a check anytime; the IRS would be glad to process it.
The question is why aren’t they doing it? Are they all talk and no action? Of course they’re also the ones who demonize conservatives for not caring about our planet (which isn’t true), while at the same time living in expensive homes that eat up power, have luxury vehicles which eat up gas, and private jets that eat up fuel. Some might call them hypocrites.
If someone makes over $600,000 in income then they’re part of the Top 1%. On average this group makes around $1 million but much of their income comes from capital gains from investments and not just their jobs; meaning that unless we increased the capital gains tax, increasing their income tax won’t make much of a difference. If we did double the capital gains tax like many liberals want to do, then a lot of money would leave the stock market sending it crashing.
I’m not a major player in the market but I’d certainly pull my money out if the capital gains tax was doubled. Major investors could very easily move their money to other investments outside of the stock market (even to other countries), that would minimize their tax exposure so chasing them around to squeeze even more money out of them is going to lead to exhaustion with no positive results.
The Top 1% already believes (and the facts back them up), that they’re paying more than their “fair share” so I’m sure they’d do everything they could to make sure the Federal government didn’t get a dime more out of them and they have the financial experts who would know how to make this happen. The fact is their money is already working for our economy through their investments in businesses (stock market), around the country thus creating jobs and increasing tax revenues at a variety of levels (i.e. federal, local, state, etc.).
Liberals try to make it sound like these rich people just hoard their money when the reality is that they get rich because they don’t hoard their money but instead put it to work for them (and us). Once again these Democrats don’t care about the truth and are willing to divide people in every way they can; in this case it’s easy to convince the poor that the rich are getting away with cheating the system when this isn’t true.
I’ve mentioned this before, but even if we increased the Top 1% tax rate to 80% it wouldn’t be enough to pay for any additional programs like eliminating college debt or providing free college. Anyone who says it would is either lying or just doesn’t understand economics (which a lot of young people don’t). I’m assuming that politicians in the Democrat Party are very aware that the Top 1% won’t solve our problems but use it anyway to mislead people and get votes. This clearly reflects that due to selfish ambition they’re willing to divide our country. These are our representatives and yet they’re the most un-American citizens we have.
One last point that I’ve mentioned before and that is any celebrity who is pushing for increased taxes on the rich doesn’t have to wait for the income tax bracket to be raised, he or she can write a check to the IRS anytime they want. The IRS gives us the minimum we are to pay, they don’t provide a maximum. If these liberal celebrities really feel guilty about not paying their fair share of income taxes they can step up and write a check anytime; the IRS would be glad to process it.
The question is why aren’t they doing it? Are they all talk and no action? Of course they’re also the ones who demonize conservatives for not caring about our planet (which isn’t true), while at the same time living in expensive homes that eat up power, have luxury vehicles which eat up gas, and private jets that eat up fuel. Some might call them hypocrites.
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