Taichiliberal
Shaken, not stirred!
As another political campaign season is just around the corner, the myth that “…the rich pay most of the taxes” is being bandied about to justify another political administrations’ proposed outrageous financial policies.
Okay, reality check: Joe and Jane Schmoe bust their collective asses working dawn to dusk at their just above minimum wage jobs to clear $30 grand a year, but pay 28% in taxes, pocketing only about $21,600.00. Rich Boy III pockets $30 million off the inherited family investments alone (reading and signing papers is hard work, I hear), and pays a 38% tax, bringing home a measly $18 to $19 million. Somehow, I don’t think Rich Boy will have trouble getting his kid braces after that tax scalping.
Okay, reality check: Joe and Jane Schmoe bust their collective asses working dawn to dusk at their just above minimum wage jobs to clear $30 grand a year, but pay 28% in taxes, pocketing only about $21,600.00. Rich Boy III pockets $30 million off the inherited family investments alone (reading and signing papers is hard work, I hear), and pays a 38% tax, bringing home a measly $18 to $19 million. Somehow, I don’t think Rich Boy will have trouble getting his kid braces after that tax scalping.