Yes, I realize that my headline very well could land me on some sort of government watchlist. But hey, a guy can dream… right?
Anyhow, not only do I consider personal income tax as little more than federally sanctioned extortion, but I’ll also come right out and say that the entire American tax system is designed to shaft the Middle Class.
Think about it. Do you own a pair of socks, a lawn mower, picture frames or even something as equally mundane as a toaster?
Of course, we all have stuff along those lines. But here’s the kicker; how many times did you have to pay taxes for all those things? Of course, just once.
So, as I ask rhetorically, why in the world are for forced to pay yearly taxes on our homes, cars, motorcycles and sailboats? Again… think about it.
Now, why the Democrats never met a tax they didn’t love.
As seen in the video below, Slow Joe’s solution to all of America’s financial woes is to triple the personal income tax for the nation’s 1,000 billionaires.
Speaking as a proud American thousandaire, even I know that you don’t slaughter every cow on the dairy farm just so everyone in town can enjoy one steak meal.
But that’s essentially what the Democrats want to do; penalize the job creators.
I can’t help but wonder how many Americans have a job because of those 1,000 billionaires? I’ll hazard a guess and say the number is easily in the tens of millions.
You know – the same people who buy groceries, clothes, durable goods every week. The same people who pay for electricity, gas, home repairs, so on, day in, day out.
But punish the job creators. After all, shouldn’t the average worker be better off depending on the government? Yeah, those evil billionaires just might cut payroll or even leave the country. That’ll show ’em, huh?
While I’m on the topic of that eeeevil top one percent, let’s take a gander and see how much they actually fork over to government goons the IRS.
As noted by the good folks over that the Tax Foundation (emphasis mine);
- The average income tax rate in 2021 was 14.9 percent. The top 1 percent of taxpayers paid a 25.9 percent average rate, nearly eight times higher than the 3.3 percent average rate paid by the bottom half of taxpayers.
- The top 1 percent’s income share rose from 22.2 percent in 2020 to 26.3 percent in 2021 and its share of federal income taxes paid rose from 42.3 percent to 45.8 percent.
- The top 50 percent of all taxpayers paid 97.7 percent of all federal individual income taxes, while the bottom 50 percent paid the remaining 2.3 percent.