The good news is that the new government’s “wealth tax” on the wealthiest Americans is set to raise taxes on the middle class, which is a good thing. The bad news is that it will be a tax on the poor. And a tax that the rich can avoid by not sending their money to the poor.
The new wealth tax is the most regressive tax in the nation, and it will apply to individuals, couples, and families earning less than about $200K. The tax was first proposed by Congresswoman Karen Handel in 2012, but it was never made into law. With the new tax, the wealthiest Americans will pay a tax of up to $2,000 for each dollar of their income, while the middle class will pay taxes on up to $4,000 per dollar.
The new tax is also designed to punish the wealthy by driving them out of the country and moving their wealth abroad. The wealthy can avoid paying the tax entirely, but any income they receive from foreign sources will be taxed at a rate of 75%.
The new tax could be a good thing for the country and its wealthy, but it won’t affect the middle class. This is because the tax was set by Congress, not the government, and therefore will be taxed by the government.
I have no idea why this is coming up, but here’s the bottom line: the US won’t be happy about this. There will be a lot of protesting and outcry, but the government will still be able to collect the tax. The more protests and outrage the better, as we’ll have an easier time getting rid of this stupid law.
If the GOP makes it through the next two years, they will eventually have to stop this “revenue raiser”. And like we said, the more protests, the better.
Oh, this is funny. The GOP is worried about their tax rate, because according to the Washington Post, “the plan would also raise the tax rate on capital gains and dividends by nearly half, to 15 percent. That’s a big cut, even for the rich.” In other words, the GOP is worried about their tax rate because they know that it will increase the amount of money they’ll have to pay in taxes. This is a good point.
The tax rate is a big issue, but it also doesn’t hurt to have one of the top earners pay less. That’s the whole point of this argument, isn’t it? If we all get to pay less in taxes, that just means that we’ll get to send more money to our state’s coffers (and their coffers).
Sure. People are so quick to point out the obvious to me when I bring up tax rates. I love it when you point this out, because then I can say, “Hey, we’ve got to pay more in taxes for the same exact reason, so we should cut some taxes.” That is a great way to make sure we all get to vote in the direction of cutting taxes.
Sure. I can’t say I disagree with you. The same argument applies here. Why should I pay more in taxes or go out and spend more money? I’m going to get an education and a job. Why should I have to pay more in taxes for that? Thats the same reason.