So goes the average argument from a Liberal (Leftist) mindset:
âThe (Extreme/Uber) wealthy, should not be allowed their âdeductionsâ and âloopholesâ, because that means theyâre not paying their fair shareâ and this means government canât provide enough subsidies for all (societal) socialist concerns.
Though the imagined/perceived arguments; and consequences and/or results of this are far too reaching for a single article on such subject, Iâll summarize with one: âIf all such (Extreme/Uber) âwealthyâ people paid their âfair shareâ, these (societal) socialist concerns (free education, healthcare, welfare, and other special interests) would benefit greater in comparison to their present statusâ
From this point, this innumerable plethora of âinterestsâ are listed, labeled, identified, etcâŠand then the return to the endless progressive arguments, whose total end game/goal, is absolute Statism.
I couldnât care less for the weasels who attempt to slither under the radar, for individual differences (Oh thatâs not me, because ________________________________) because by such instant deflection, they prove they do not understand the end result (ignorance), or theyâre simply (deceptive) lying to you.
To begin with: who decides this fair share amount/percentage, what all is it based on, who defines what fair means; and is it really fair to all concerned?
And with the simple insertion of such questioning, it has now successfully changed the focus of the conversation through the use of something I refer to as âD.E.A.D. argumentsâ, pointing to their distractive, evasive, avoidance and deflecting from the immediate topic.
Unless weâre discussing a flat rate/amount/percentage (already complex) and an outright revocation of the entire U.S. income tax code (replacement legislation needed), youâre still discussing a process that includes nearly 400 million Americans, who all should be considered in the process and application of such replacement system.
Every locale across the country is going to demand equal representation in such legislation considerations, with every city/county/state taxing board offering multitudes of ideas, proposals, suggestions, grievances, etcâŠ
One of the reasons such difficult conversations are difficult with respect to those on the Liberal Left, is because basic facts, logic, math, science and deductive reasoning, are largely inadmissible in conversations with them about such topics; especially where it concerns contradiction or even correcting them.
Some facts and figures:
2017 U.S. GDP (Gross Domestic Product â Source www.thebalance.com) = $18 (trillion), 485 Billion.
2017 U.S. Government Revenue – Source www.thebalance.com) = $3.342 Trillion
$3,342 trillion / $18,485 Trillion = 18%
For 2017, âThe federal deficit (SHORTFALL) in 2017 was $665 billion (Another 2/3rd trillion dollars â Source – www.cbo.gov) which would have required the taking of an additional 3.5 percent of gross domestic product, to balance out for the year.
So weâll use a conservative figure of 21%, are you willing to agree to a flat rate of 21% of your own income being handed over to the Federal Government? Do you believe that if applied to all âEmployedâ individuals equally, the Federal Government would raise enough income to meet its yearly budgetary expenditures?
It wouldnât come close.
Though America did first see yearly deficit amounts of more than 1 trillion (nearly 2 trillion in 2010) during the Obama ârecoveryâ period, our yearly deficits will exceed this on a regular basis, in only a few short yearsâ time.
And our yearly deficits and debts, are simply going to continue to climb (No matter the political affiliation of the Presidents or Politicians in each administration), until they can be propped up no more.
The website taxfoundation.org notes âThe share of income earned by the top 1 percent of taxpayers fell to 19.0 percent in 2013. Their share of federal income taxes fell slightly to 37.8 percentâ
In some 2015 findings:
The top 1% income earners have nearly a 20% share of Adjusted Gross Income.
Out of 100% of a pie, the top 1% of 2015 American taxpayers paid nearly 38% of the total tax bill.
According to the IRS Statistics of Income, Individual and Tax Share for 2015:
A. The top 5% of income earners in America 2015 paid more than 56% of total income taxes collected for 2015.
To show a blinding contrast:
B. The bottom 50% of income earners in America 2015, paid less than 3% of total income taxes collected for the same year.
Mid-Statistic:
So the Liberal Leftists want the top income earners to pay âmoreâ so the top income earnerâs âfair shareâ is even higher than it is currently, thus reducing the weight on those of more âmodestâ means?
This is the virus demanding more of its host in a quicker time frame; eventually, killing its host, and itself.
The top 25% of income earners in America 2015, paid more than 86% of all income tax revenue
Letâs rejoin our hypothetical 21% universally applied income tax; comparing this taxation rate with our 2 (A and B) examples above, whoâs taking home more money, and whoâs going to get sucker punched?
Basic math here will also show you the Federal Government would have collected far less in revenue (oops, taxes) overall; including far less from the top income earners, but exponentially more from those in the lower income brackets. After doing this, youâre still increasing your yearly deficit, which gets tacked onto the National Debt, and this goes on year in and year out.
In comparison to these 2015 figures, you can see why the Federal Government could never agree to such an overall low Fair or Flat, income tax rate of 21%. Theyâd be even deeper in debt each year; and eventually, that system is going to collapse.
With 25% of the country already footing 86% of the income tax bill, how much more âfairâ could this be possibly made, without reducing overall revenues? It canât.
The Liberal Leftists need to shut up about any âfair shareâ because the only âfair shareâ theyâre actually interested in, is somebody elseâs fair share of the bill, while (under their own systems) their own majority would be paying in even less than they currently are doing.
Simple Economics elude the average Liberal Leftist: itâs not so much basic math that they do not understand, but it is in accepting the realization of what the numbers not only do say, but how that affects all their given âspecial interestsâ preferences.
The balancing of an income tax system is tricky enough, but always seeking to punish those who earn more, only causes the producers themselves (Investors, Manufacturers, Owners, Share-Holders and Management) to raise prices on their goods and services, so their profit margins arenât negatively affected, but your purchase power takes another hit.
The âFair Shareâ Myth, is simply a lie.
Original content here is published under these license terms: | X |
|
License Type: | Read Only | |
|
License Abstract: | You may read the original content in the context in which it is published (at this web address). No other copying or use is permitted without written agreement from the author. |