I have been hearing the candidates running for president talking about all the things they are going to do when they get elected, and a lot of the items are going to be paid for by taxing the billionaires.
I did a little research, and the average following numbers are what I came up with.
There are 585 billionaires in the United States that they say will pay for all their extreme wishes. But there are 14,814,853 millionaires in the good old USA. Why not tax them also to get all those extreme wishes paid for?
Well, here is what I also found in my research. We have 261 millionaires in our U.S. House and 40 U.S. senators who are millionaires. Now why would our elected officials not want to tax the millionaires also? Because the majority of them are millionaires.
It is a wonder how a person enters Washington not a millionaire but leaves one? So when the persons running for office are also millionaires, they fail to include themselves in the ones to pay for their extreme platforms.
If they think that being a millionaire means nothing and being a billionaire means everything, so just tax them a lot higher, well, they are wrong.
Ask the middle-class citizen if they feel that there is a big difference in their mind as to which one means more. They will tell you that they both need to be taxed higher, much higher than they are.
If these politicians feel that the rich should pay more, why not tax everyone the same, like 5 percent across the board with no exemptions. You make a million dollars, you pay 5 percent tax on it. You make $40,000, you pay 5 percent tax on what you make.
I don’t know what percentage the straight tax would be, but if you made $300,000, you pay $15,000 in taxes, and if you made $30,000, you pay $1,500 in taxes. So simple to me. I was just guessing at the 5 percent tax as an example.
Congress makes $174,000 a year, and their tax would be $8,700, not counting their other income. I will not hold my breath waiting for a politician to come up with a flat tax for everyone.