If you are an individual and earn $400,000, you are in the top 1%. If your household earns $400,000, you are in the top 2%.
Does anyone seriously think that those Americans can cover the cost of the new spending proposals from free community college to day care and pre-school to loan forgiveness, expanding Medicare and increased Social Security benefits?
And what about CEOs, are there enough of them to make a difference? Politicians throw around “CEO” and criticize their compensation like they are referring to all CEOs when in fact they are talking about a small percentage of all CEOs who work in a Fortune 500 organization.
Take the pay of a CEO from a large corporation and divide it by the number of workers and see what little it is relative to each worker.
It’s all a ruse.
Do you think taxing the wealth of individuals is a good idea? Wealth that has been earned actively or passively. Do you believe such a tax will stop at billionaires? Do you believe establishing new ongoing programs where costs will increase can be adequately funded over time from a source where the tax revenue can decline with the stock market?
Do you believe higher taxes on corporations is without consequences on prices and competitiveness in world markets? Or, without consequences on the stock market upon which your retirement likely depends?
Look at the tax structure of any country held up to Americans as better than the USA because of its social programs and you will find higher taxes and fees across the board. That’s what it takes to fund such commitments and even then maintaining such promises is an issue.
Why do American progressives insist on misleading us?
“Take the pay of a CEO from a large corporation and divide it by the number of workers and see what little it is relative to each worker.“
I’ve actually done this before and for the 3-4 S&P stocks I checked it was about $.02 an hour.
Under Obama, Congress passed the American Taxpayer Relief Act of 2012. Most of the House republicans opposed it. The Act is set to expire on December 2025. This is when farmer estate tax exemption drops from $11.58 million to $5 million per person. It is not hard for a farmer to gain $5m in asset or wealth over his lifetime. A new corn combine costs $500k, then there is buildings, land, wagons, other tractors and equipment.
I find it funny that the democrats in 2012 found it necessary to have family farmers preserve wealth and now they want to tax family wealth.
The real purpose of this political proposal is to create hate and division for select groups. The real aim is to divide and concur . In the last several decades of our country virtually any time the federal government “helps” with new legislation. It ends up destroying.
Nailed it…facts don’t have feelings.