Thursday, September 16, 2021

Biden's "Pay Their Fair Share" Will Make All Our Cupboards Bare


One of the most misused phrases in the Blue’s lexicon is “Pay their fair share”
Biden in announcing his soak the rich schemes with his grin and teleprompter eyes stare
Makes a false that the rich don’t pay taxes but the claim supporting facts are not there
No surprise since when to push the Biden agenda his truth cupboard is bare
In 2018 those earning income of over $540,000, the top 1 percent
Of the total tax revenue those high earners over a fifth of tax revenues sent
The next level of  income  218k to 540k, 2 to 5 percent the percent share of income was 16
From them the IRS collections of total tax dollars one fifth was seen
So the top 5 percent of the taxpayers based on income at a 37 % share
60% of the taxes raised from them the IRS snares
Only in the 5% -10% percent of income next tier of 152k to 218k does income percent and tax revenues percent match
In that group 11 percent of total revenues equal the same percent the IRS is able to snatch
Then the ratio of income percent to taxes collected gets higher until the taxpayers in the bottom half
Who earn 12 percent and pay 3 percent so the false Biden claim of not paying one’s fair share should make us laugh
Our income tax system is a tax on income not assets which are held but not in the year sold
Biden’s claim of no taxes paid by billionaires another example of cognitive collapse taking on him hold
© September 16, 2021 The Alaskanpoet

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