By Randy Rossi -
It is just amazing and frustrating to watch Democrats relentlessly and dishonestly attack the top 1% of American income earners and demand that they pay their “Fair Share” of taxes. Just like Democrat President Joe Biden did last night in his speech to Congress as he announced his goal of raising taxes for the top 1%. I am not sure what angers me the most, the fact that the Democrats are lying about this or the fact that most Americans don’t know how dishonest the Democrats are when they attack the top 1%. The facts that prove the dishonesty of these Dem’s attacks on the top 1% are available to the public if they do their homework but you will never hear the facts in the “Fake News”.
Here are the facts that you can Google (I use Bing!) yourself. The top 1% of Americans pay 38.5% of all federal income taxes that run this country while their incomes only make up 20% of the total income of the US. So they pay almost 2 times more in the percent of federal income taxes than they make in income. On top of that, the top 1% pay more income taxes than the bottom 90% of all Americans combined! Pretty evil right? Added to that, the bottom 47% of Americans pay zero federal income taxes. That means that the “evil” top 1% are paying for the roads and infrastructure that the 47% of the lowest income earners who pay zero federal income taxes use to live their lives and for the military that protects them. The bottom 47% of Americans could not exist if it were not for the federal income taxes the top 1% pay!
The top 10% of American income earners pay 70% of all federal income taxes but they only make 45.9% of all income. Sounds pretty evil right? Especially when you remember that the bottom 47% of Americans pay zero federal income taxes. So the bottom line is that without the top 1% and the top 10% of income earning Americans, America would have been broke and living like Neanderthals a long time ago. Added to that is the fact that many of these top 1% of income earners made that money by risking their personal money by investing in creating new businesses that hire American workers. Essentially, these “evil” rich people create many of the jobs that we all live on by risking their personal incomes.
So the next time you hear a Democrat talk about the evil 1% who need to pay their “Fair Share” of income taxes, remember that they do and those Democrats are lying to you to create hatred for successful Americans that make our country stronger. But there is another down side to these tax attacks on the top 1% and it has happened before. If these Democrats raise federal income taxes much more for the top 1%, the top 1% will stop risking their money and just live good lives on their current savings and investments. If the risk of making these investments increases too much when you add up taxes and risk, why would rational people take those risks? Who would suffer if that happens? Every American and their kids and grandkids! America became the most prosperous nation in the history of the world because brave entrepreneurs profit from hard work and taking business risks. If we punish those people with super high federal taxes, that prosperity will cease to exist for everybody.
So the next time you see someone in the top 1%, thank them for helping to make America great and for paying their “Fair Share” of taxes!