- Sep 19, 2020
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We need more billionaires.So says Bernie Sanders...https://berniesanders.com/issues/tax-extreme-wealth/
He says ..."Will raise an estimated $4.35 trillion over the next decade"
That's $435 billion additional tax revenue per year.
Right now... if the top 1% of US households (164 million households) or 1.64 million earn
$1,700,000 per year and pay right now about 20% of all federal tax revenue.
BUT if Bernie and the majority of the ignorant people on this board have their way...
according to Bernie these "billionaires" will have "cut the wealth of billionaires in half over 15 years,"
Hmmm... so if Bernie has his way and cuts these evil billionaires wealth in half... how will Bernie pay for the next 15 years?
Remember he is counting on these "billionaires" to pay $435 billion a year from their wealth which according to his plan will be reduced every year.
Which means the tax payments will be reduced. It's just simple economics.
About half of Americans pay no federal income tax at all; the rest of us pay it for them.
The richest among us tend to pay the most taxes, generally about 27% for the top 1%. They pay so much more than most of us do. Personally, I am thankful and wish them even greater future success, but I do pay a tidy sum of taxes myself.
The wealthiest among us pay for most of the operations of the government, including schools, roads, law and order, defense, energy, medicare, etc.
This wealthiest among us owe us squat. They can take their money and run after firing everyone.
But instead, they decide to make more money by continuing to employ people who buy homes and other things, paying property, sales, social security and other taxes, while these employers are paying similar taxes themselves.
Demonizing the successful has to stop. We need to encourage success, not penalize it. Everyone would love to be successful. Everyone can be, if they strive to do so, every day.