Biden’s Fair-Share

Forgetting any other “prejudice” you may have against Joe Biden, here’s a great example of how big a fraud and liar he is:

Remember, Joe Biden is ultra-wealthy, lives, vacations, and hobnobs with many of America’s top income earners.

This is from CNN

“The campaign also said Biden would reverse some of Trump’s tax cuts for corporations and enact “common-sense tax reforms that finally make sure the wealthiest Americans pay their fair share.”

The 2015 income tax season saw the top 1% of all U.S. income earners, paid nearly 37% of all individual income taxes.

I love the “fair-share” argument.

Tax-year 2017 (IRS) statistics: The top 10% of all income earners paid over 70% of all individual income taxes collected, and the top 50% income earners paid over 97% of all individual income taxes.

The bottom 50% of taxpayers paid only 3% of all individual income taxes paid in income tax year 2017.

Fair-Share?

How about the bottom 50% start paying their fair share?

Knowing these statistics, you have to be astoundingly ignorant in economics and math, or knowingly corrupt and immoral, to believe the top income earners in America aren’t already paying more than any “fair-share” fantasy.

Statistics like this help you separate the honest from the corrupt, and the moral from the immoral.

But this kind of strategy is precisely how you prey on the ignorant, stupid, and otherwise immoral.

Do you know what happens when you try to penalize that top 10% beyond already paying 70% of the individual income tax bill?

They raise prices and the taxpayers are actually the ones paying those higher taxes for the uber-wealthy.

This strategy was well known even in the Roman Empire, Ancient Greece, and Ancient Egypt.

The idea that any sane person pretends to believe the top income earners aren’t already paying a fair share, is insanity, and immoral.

Remember The 2015 income tax season saw the top 1% of all U.S. income earners pay nearly 37% of all individual income taxes.

“Trump’s tax cuts for corporations” is speaking about the Corporate Income Tax rate that was lowered to 21% in 2018, from the 35% rate it had averaged since the early ’90s.

This Corporate Income Tax rate averaged near 40% to 50% from the early 40’s through the mid 80’s; and has not seen today’s lows since before America joined the war in WWII

This single move (reducing this tax rate from 35% to 21%) made in the Trump administration is largely responsible for much of America’s economic growth since and is equally responsible for the return of so many businesses that fled America, to escape higher corporate income tax rates.

Raising this Corporate Income Tax rate again, would stifle growth, and send even more businesses overseas, for cheaper labor, lower benefits for employees, and lower taxes for themselves.

Joe Biden is doing little more than political posturing, prostituting, postulating, and pandering: pandering to those the Leftist controllers, deem just ignorant or immoral enough themselves, to believe these elitists really care about leveling the playing field in income inequality.

J.W.

© 2020 www.rafonreport.com

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