What does President Biden consider “fair” in our tax code?
For the publisher:
President Biden therefore wants “fairness” in the tax code. Sounds commendable, doesn’t it? It does this until you consider the source of the remark and examine its motives.
President Biden never defines “fair”, does he? The concept of fairness is subjective at best and cannot be quantified.
Oh, President Biden is going to hammer home that corporations aren’t paying their fair share of taxes and rich Americans aren’t paying their fair share of taxes and how the dastardly President Trump had the absolute nerve to cut taxes for everyone (like it’s a bad thing)! But, as he rages, he never defined “fair”!
Who gave President Biden, Nancy Pelosi, Chuck Schumer or any other Democrat the power to determine the definition of righteous?
Here’s what they think is right:
1. Tax our companies at the highest rate in the world. Businesses pass these tax increases on to consumers in the cost of their products and services. It really is a tax on the American consumer. Equally important, our companies are losing the ability to compete in a global marketplace and we are losing jobs in the United States as they move their operations overseas.
Is it right?
2. President Biden and the Democrats want to raise taxes on hard-working producers in our country. They raised the so-called poverty line so high that those on or below it pay NO federal income tax. In 2020, nearly 61% of employees PAID NO FEDERAL INCOME TAX! In other words, 40% of wage earners pay 100% federal income taxes and President Biden and the Democrats want THESE HARD WORKERS to pay more taxes.
Is it right?
3. When asked socialist Bernie Sanders what he thought was a fair income tax rate for high-income Americans, he said 97% should be fair. He would confiscate, by force of law, 97 cents of every dollar earned
rich Americans. President Biden and the Democrats think that’s fair.
Is it right?
I believe we should ALL pay taxes even if we are at or below the poverty line. Even though we only pay $ 1. Everyone has skin in the game.
However, taking 97 percent of a person’s income is outrageous and terribly unfair.
We need to consider all the ramifications of taxing businesses because if we tax them too heavily we lose millions of American jobs.
I don’t have the right to determine by law what a fair tax rate should be and President Biden and the Democrats don’t have that right either, but if they were working with Republicans in a non-partisan way, Congress could determine fairness.
Mallory Square Village