Yes and the rich pay the highest percent of taxes and contribute the most. They don’t need to be taxed more, they already pay plenty.
“This slogan is simply dishonest; rich people do, in fact, pay taxes. Just under half (48 percent) of federal revenue comes from income taxes. If you define the rich as the top 1 percent — which is probably too narrow, depending on the region of the country — the rich pay a big chunk of that. In 2016, according to the Tax Foundation,
the top 1 percent accounted for 37.3 percent of all income-tax revenue, a share that was greater than the bottom 90 percent of all payers of income tax combined. The top half of taxpayers paid 97 percent of income taxes.”
And furthermore Sanders plan for healthcare can’t be paid for even IF you taxed the top 1% at 100% taxes.
“According to the Manhattan Institute’s Brian Riedl,
doubling the top tax brackets (from 35 and 37 percent to 70 and 74 percent) “would close just one-fifth of the long-term Social Security and Medicare shortfall. Even seizing all annual income earned over $500,000 would not come close.”
You could literally confiscate 100 percent of the wealth of the entire 1 percent and not come close to paying for Sanders’s version of Medicare for All (price tag: $32 trillion).
This points to my real problem with all of this “tax the rich” talk. It works from the assumption that the problems of ordinary Americans are the result of a tiny group of people selfishly refusing to do their part. Not only does this assume that the wealth of people who have paid considerable taxes still belongs to everyone, it’s also simple scapegoating. By my lights, it would be no less outrageous if the math added up. But it doesn’t, which makes it even more irresponsible.”
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