Unfortunately, the so-called “experts” in our government have violated all of these basic economic concepts and thousands more, bankrupting the USA while our government continues to pass deficit spending bills in a country already more than $32 trillion in unsustainable debt. These “experts” could not be worse economic managers if their lives depended on it!
On a national scale, Americans are also in a mountain of unsustainable debt and most of them are depending upon a bankrupt nation to pay those debts for them. In case you have not figured it out yet, the only place the government can get money is from YOU! They drove us all into bankruptcy through their insane policies, and now
they have no choice but to come to YOU for the money.
Further, understand these irrefutable basic concepts.
“Rich people” only pay the taxes they are willing to pay. They are international players with so many options to legally avoid taxation that they need not evade taxes illegally.
“Poor people” don’t pay any taxes…they can’t. So, top earners and bottom earners can escape taxation at will. That leaves you and me, the average working stiff who has the ability to pay taxes, but not the ability to avoid paying taxes. No matter what any politician says, it is
“the middle class” that they must rob of their earnings, or the whole house of cards will come crashing down.
In the past, the TOP 10% of income earners in the USA, those making more than $152,321 household incomes, have paid approximately 75% of all federal income taxes. In considering the subject of “fair share,” is it fair that the TOP 1%, those making over $548,336 per year, taking in 22.19% of personal income, have been paying 42.31% of all federal income taxes? (
LINK)
Next, no matter what the corporate income tax rate is,
corporations DO NOT PAY INCOME TAXES. Instead, they collect taxes from their shareholders in reduced per share earnings, and from you their consumers, in higher prices. Then the corporation will remit those funds to the government “if” the company shows a profit during the taxable period.
(inflation)
If you have a 401k or invest in the market, YOU are paying the “corporate taxes.” If you consume products at higher prices, YOU are paying those “corporate taxes.” Corporations do not pay income taxes. They collect it from you and send it to the government in the form of so-called “corporate taxes.”