Let’s be honest here, the “tax increase on the richest Americans” that the democrats keep repeating their talking points on, won’t effect the “richest Americans” one damn bit.
Take my senior Senator for example, based on his income as a Senator alone, he should be paying federal tax at a rate in the mid thirties. In addition to his tax payer funded income, he personally is worth hundreds of millions of dollars, plus he married a woman who inherited billions of dollars from her late husband. His federal tax rate is 14%.
The tax hike the democrats are so hot for won’t effect his tax rate one damn bit. So the democrat’s rhetoric about having the richest Americans pair their fair share of taxes is a flat out lie.
One of good ideas of the President’s deficit reduction panel was to drastically simplify the tax code and reduce the highest tax rate to 25%. That will reduce the 30% plus overhead of the IRS and get uber-rich democrats, like my senior Senator, to actually pay their fair share of the taxes paid by almost every other working American.
Don’t expect democrats to embrace this idea though. It goes against their core values, like waging class warfare.