Biden continues to talk about how the rich need to pay their "fair share", which seems to translate into a higher tax bracket than the rest of us. For years, people have asked why we don't have a flat tax rate like 10% across the board. Seems to me, that would be the true way to calculate the "fair share" of taxes on each person or corporation.
Frankly, it pisses me off that the more hours I work, and the more money I make, the higher rate of taxes they take out. Why is that? You're penalizing me for busting my ass to feed my family. Then they take my tax money and give it to someone that isn't working at all. How is that "FAIR"??
And what does he think will happen when he raises taxes on the rich? There are 2 main options that I can see happening from this.
1. The price of consumer goods will go up to compensate for the additoinal taxes, which just screws the middle class in the end, as usual.
2. These "ultra-wealthy" folks will take their companies, and jobs, somewhere else that will give them incentives for providing the very jobs that the middle class relies on to support their families. Thus, screwing the middle class, again!
Not to mention, all he's doing it changing the starting point at which taxes are calculated. Unless he's going to do away with the loopholes and tax breaks that these folks are using to avoid paying so much, he's only changing the starting point, not the end result, like he claims. But, if he gets rid of the loopholes, he'll hurt himself and his rich friends in Washington so, that will never happen.
