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I love how Big Media and progressives HOWL over the tax code when it reveals how their Leftist friends are feeding at the federal trough. The latest scandal is a ProPublica story showing wealthy Americans such as Jeff Bezos (owner of the Washington Post) paying little in income taxes. The shocked media goes so far as to write in the NYT: Bezos even claimed a $4k tax credit for his kids.
Hello... have Dems forgotten who came up with that ridiculous idea? They did! The child tax credit was meant to be awarded to families who didn’t pay any taxes as well as those who did. That’s a fancy way of just saying it’s a federal payout. Yet in order to give that “tax relief” the Code needed to be changed so that EVERYONE who had kids could claim the credit, no matter how rich they were.
This is what’s wrong when Dems and Rs try and rig the Tax Code. Huge loopholes are created.
That’s why we need a simple flat tax rate and just one tax percentage. No matter who you are, everyone pays the same. I promise you, it would be lower than the system we have now. Because folks like Bezos wouldn’t have an effective tax rate of 0-4% like he does now. He would pay 12-14% which is where reformers think a flat tax would land. Yes a steelworker would also pay 12-14%, but that’s a lot less than the current rates they pay. And here’s the good news: the more that worker earns, the more he keeps! His rate won’t rise as his income does. That’s true tax fairness!