Paying their fair share
The left loves to talk about how the wealthy need to “pay their fair share.” Elizabeth Warren can’t go a day without having one of her staffers talk about that crap on social media, and she’s far from alone.
The idea is that the wealthy don’t pay enough in taxes, in part because the way the wealthy are paid is different than the way you and I typically are. They don’t have income; they have investments, and investments get taxed differently. We want investments because they fuel the economy, so they’re taxed at a lower rate.
And, since many retirees live off of their 401 (k)s or IRAs, they’re living on investments, too, so any rise in those taxes will hurt retirees.
But there’s one way that many well-off folks aren’t paying their fair share, and since it hits the wealthier leftists more than folks on the right, I’m giddy about it.
