When asked how much of the tax burden the rich should pay Al Sharpton once said “15%”. When informed that the rich already pay over 50%, he quickly changed the subject.
I have been trying to find a video clip of that interview, which I remember seeing fairly recently, to confirm that I got the numbers right. I will update this post when I do find it.
Bottom line: the progressives are very distorted in their ideas about taxation.
Additional areas where the progressives get it wrong:
- they point out prosperous periods when margin tax rates topped out over 90%. They don’t realize that effective tax rates where never that high. Virtually nobody paid the top rates, due to tax loopholes.
- They point out that in the past the rich paid a higher share. But they don’t keep in mind that when the income tax was originally enacted, it was intended to only affect the very rich. So what? Does this mean it should only affect the very rich now? And since when does $250,000 make one “very rich?”
Regarding Sharpton’s recent call for censorship of conservatives (Limbaugh): give me a break! Too ridiculous to even address. If Sharpton likes censorship, then he is very un-American, and bigoted to boot. He only hurts himself by making such outrageous requests.