Why is a graduated income tax — you know, what we’ve had for basically everyone’s life — is so hard for conservatives to understand? I mean, they pay taxes, too, right?
“If I earn $10 million, they want to take 70% of everything I earn!” they scream. No, we want 70% of any amount OVER ten million a year. It’s not that difficult of a concept, whereas the percentage changes with different income levels. If you’ve ever paid taxes before in your life, you should be aware of it.
Here’s how it works:
The current proposal raises the rate for the extremely very wealthy, asking for 70% for income above $10 million — which would affect a very small number of Americans. And that’s even less than what the very rich paid in the 50s and 60s. You know, those terrible days when we built interstate highways, provided free college education, and went to the Moon.
Further, Democratic proposals want to reduce the amount paid for those under $50,000 (which is the majority of Americans) which can easily be done if we raise it on the very wealthy. This will help the economy tremendously, because when we non-rich people have money, we spend it on things we need!
Oh, wait. I see now. The Republicans claiming that Democrats want 70% of your income are lying to make people hate this idea. Silly me. Should have used Occam’s Razor to begin with.