The media, driven by the Democratic left, has been nearly saturated with the administration’s call for the tax system to be more “fair”. Their clarion call of course, is that bazillionaires like
George Soros (D), Al Gore (D), Michael Bloomberg (D), Bill and Melinda Gates (Ds), Nancy Pelosi (D), Mark Zuckerberg (D), Warren Buffet (D), David and Charles Koch (Rs), should pay more of their “fair share” of taxes. Tax the Rich (Rs)! However, that same media and Democratic hard left conveniently leaves out critical definitions of just what “fair” is and what tax rates would achieve this presumed fairness.
They (the Progressive Party (democrats)…have you ever wondered why our monstrosity called the income tax is termed “Progressive”?), are quick to point out that public opinion polls sometimes DO say that slightly more people agree with wording such as “raising taxes on “the rich”, “millionaires”, or “families earning over $250,000””. However, most of those polls do not say just what amount that the respondents would consider fair.
An interesting poll reported in the Wall Street Journal asked what would be a “fair” tax, not on hard-earned, everything-at-risk, rags-to-riches American success story individuals but rather, for a lottery windfall. The results revealed that less than one-fourth chose a rate for the mega-million lottery winners of over 30% (this progressive administration wants to go to 35% and eventually MUCH higher for high earners, not including social security). Even more stunning is that:
The vast majority thought that a reasonable amount to pay was much lower, with the average being only 15%. Democrats and Republicans differed only a little: The average rate preferred by Republicans was 14%, compared with 17% for Democrats.
..over half the respondents chose a tax that amounted to 10% or less of the lottery winnings.
Let that sink in. As I did, I questioned:
- Could the oft-assumed popular support of the “Progressive [Party] Income Tax” system be more myth than reality? (Who do you personally know who actually likes our income tax system?)
- Is it really more “fair” to tax different people different percentages of what they earn (or win)? Should so many of the tax “credits” be “refundable” to lowest income brackets (in government “Newspeak” meaning they are getting something back that they did NOT put in in the first place)?
- Is it fair that the current brackets range from less than 0% (meaning the government pays some people for not being as successful as others), while others pay upwards of 42%, NOT INCLUDING property and sales taxes?