So, our socialist-in-chief Obama insists that the only way to avoid default on August 2nd is for those with higher incomes to pay their “fair share.”
With a progressive income tax that we’ve had for decades, those who earn more money are already paying a larger percentage of their income into taxes. Even if everyone paid exactly the same percentage tax rate, those who have higher incomes would pay more taxes.
But the current income tax system goes well beyond that. Higher income individuals are already subject to a higher percentage of their incomes being taken out for taxes than lower income individuals. The top one percent of earners already pay over 90% of the taxes. Obama wants to go beyond that. He insists they pay their “fair share.”
What is “fair share.” The progressive income tax system we have already doesn’t seem very fair to higher income earners. Requiring an even higher tax rate for higher earners than already exists seems to me to be significantly less fair.
Our progressive tax system is already blatant income redistribution. Obama wants to make it more blatant – in the name of “fairness.” Bull crap! More in your face bald-faced twisting and misuse of perfectly good words from our socialist deceiver in chief - and the absolutely useless, corrupt, self-serving, controproductive Senate.