HomeUploadUpload DirectHotlinkRandomAbouttheme toggle
Expand

Why Aren't The Rich Paying 50% in Taxes?

Views:940
@ReasonVids

Tax Day (April 18) is fast approaching, which means anxiety and night sweats for about 99 percent of taxpayers.

And bitching and moaning by those at the top of the income pyramid about how they aren't forced to pay more in taxes. Secretary of State and cattle-futures queen Hillary Clinton, super-investor Warren Buffett, and best-selling author Stephen King have all recently carped about how rich folks like them should be paying more in taxes. King recently told a Florida rally, "As a rich person, I'm paying 28 percent in taxes. What I want to ask you is, Why am I not paying 50?"

Such rhetorical questions miss the point when it comes to the country's balance sheet. The U.S. doesn't have a revenue problem or a tax-rate problem. We've got a spending problem. Since 1950, revenue from all sources has averaged around 18 percent of Gross Domestic Product, despite top tax rates that have fluctuated from over 90 percent to the high 20-percent range. So despite all efforts to jack up revenue (or reduce it), that's what the government can expect to work with. Yet spending has averaged about 20 percent of GDP - and is currently at a whopping 25 percent of GDP, a figure not seen since World War II. President Obama's budget plan forecasts spending at 23 percent of GDP over the next decade while Rep. Paul Ryan's GOP plan calls for 20.5 percent. There's your deficit right there, folks.

But King, Clinton, and Buffett can always pay more in taxes to retire federal debt held by the public. Just go to http://treasurydirect.gov and make a voluntary donation to reduce the national debt held by the public. So far in calender 2011, Treasury has pulled in an $125,000! Which means there's only about $8.99 trillion to go.

Written and produced by Meredith Bragg and Nick Gillespie. About 2 minutes.

Go to http://reason.tv for links, downloads, and other videos. Subscribe to our YouTube channel to get automatic notifications when new material goes lives.

reason.tv
,
reason.com
,
reason.org
,
reason magazine
,
reason foundation
,
stephen king
,
hillary clinton
,
warren buffett
,
tax day
,
april 18
,
taxes
,
irs
,
treasury direct
,
treasury department
,
national debt
,
federal deficit
,
government spending
,
government shutdown
,
nick gillespie
,
meredith bragg
    Thumbnail for Final Countdown to Government Shutdown!1:36
    Final Countdown to Government Shutdown!
    ReasonVids
    797 views
    Thumbnail for Lanny Ebenstein: The Indispensable Milton Friedman5:38
    Lanny Ebenstein: The Indispensable Milton Friedman
    ReasonVids
    1077 views
    Thumbnail for WWE PROF. WRESTLER & WEIGHTLIFTING CHAMPION DEAD VIA ??? (Brought to you by PFIZER)4:08
    WWE PROF. WRESTLER & WEIGHTLIFTING CHAMPION DEAD VIA ??? (Brought to you by PFIZER)
    bestofsaidit
    723 views
    Thumbnail for California Law CRIMINALIZES Doctors’ Free Speech About COVID ~ The Jimmy Dore Show22:19
    California Law CRIMINALIZES Doctors’ Free Speech About COVID ~ The Jimmy Dore Show
    bestofsaidit
    912 views
    Thumbnail for Lenore Skenazy on Freeing Your Kids (and Yourself) in the 21st Century1:13:53
    Lenore Skenazy on Freeing Your Kids (and Yourself) in the 21st Century
    ReasonVids
    748 views
    Thumbnail for Lazy Nigger0:22
    Lazy Nigger
    bestofupgoat
    209 views
    Thumbnail for The Presidents of Harvard, Penn, and MIT were asked: “Does calling for the genocide of Jews violate [your university’s] code of conduct or rules regarding bullying or harassment?”  All 3 of them basically stood their ground and supported free speech.3:28
    The Presidents of Harvard, Penn, and MIT were asked: “Does calling for the genocide of Jews violate [your university’s] code of conduct or rules regarding bullying or harassment?” All 3 of them basically stood their ground and supported free speech.
    AOUisgay
    497 views
    Thumbnail for I'll Get You Bitch! (alternate version) original content0:40
    I'll Get You Bitch! (alternate version) original content
    bestofupgoat
    166 views
    Thumbnail for Ep. 2667a - Structure Change Coming Soon, The [CB] Economic Inflation Is Getting Worse | X22report16:04
    Ep. 2667a - Structure Change Coming Soon, The [CB] Economic Inflation Is Getting Worse | X22report
    bitchute_topics
    930 views
    Thumbnail for Sharon Presley on Libertarian Feminism7:00
    Sharon Presley on Libertarian Feminism
    ReasonVids
    878 views
    Thumbnail for Entire 𝙎𝘾𝘼𝙈𝙈𝙀𝙍 Call Center Panic dials Police | Scammer Payback19:16
    Entire 𝙎𝘾𝘼𝙈𝙈𝙀𝙍 Call Center Panic dials Police | Scammer Payback
    invidious
    353 views
    Thumbnail for BIG CONTENT THEN BIG GAMING !gamersupps !NewYT !TikTok2 | Flats10:22:40
    BIG CONTENT THEN BIG GAMING !gamersupps !NewYT !TikTok2 | Flats
    invidious
    168 views
    Thumbnail for Trump Deploys MARINES To LA Riots, Mexican President Says STAND With Illegals | Timcast IRL2:02:21
    Trump Deploys MARINES To LA Riots, Mexican President Says STAND With Illegals | Timcast IRL
    invidious
    52 views
    Thumbnail for Reason.tv's Nanny of the Year 2009!1:21
    Reason.tv's Nanny of the Year 2009!
    ReasonVids
    904 views
    Thumbnail for World Economic Forum: By 2030, "You will own nothing. And you'll be happy!" | WEF original upload1:31
    World Economic Forum: By 2030, "You will own nothing. And you'll be happy!" | WEF original upload
    bestofpoal
    862 views
    Thumbnail for Wife material 0:24
    Wife material
    bestofupgoat
    342 views
    Thumbnail for sailor moon - barbie girl (remix) | Flerka7774:11
    sailor moon - barbie girl (remix) | Flerka777
    invidious
    331 views
    Thumbnail for What about the 'war on drugs' and libertarians?4:12
    What about the 'war on drugs' and libertarians?
    ReasonVids
    957 views
    Thumbnail for Membership0:37
    Membership
    bestofupgoat
    267 views
    Thumbnail for The Fantastic 4 Is A 60s Period Piece OUTSIDE The MCU, Why Is This A Good Thing? | DoomBlazer1:00
    The Fantastic 4 Is A 60s Period Piece OUTSIDE The MCU, Why Is This A Good Thing? | DoomBlazer
    invidious
    298 views
    Thumbnail for Strange Liquid 😨 | Jace Malone0:21
    Strange Liquid 😨 | Jace Malone
    invidious
    307 views
    Thumbnail for Melissa Chen on Fighting Wokeness at Home and Radicalism Abroad1:04:38
    Melissa Chen on Fighting Wokeness at Home and Radicalism Abroad
    ReasonVids
    886 views
    Thumbnail for Why are the truckers not speaking out since they are being publicly blamed?1:25
    Why are the truckers not speaking out since they are being publicly blamed?
    voatcatbox
    568 views
    Thumbnail for Remy: God Bless the USA (Lee Greenwood VA Scandal Parody)2:38
    Remy: God Bless the USA (Lee Greenwood VA Scandal Parody)
    ReasonVids
    1071 views

points

Permalink
Reply
reason.tv
,
reason.com
,
reason.org
,
reason magazine
,
reason foundation
,
stephen king
,
hillary clinton
,
warren buffett
,
tax day
,
april 18
,
taxes
,
irs
,
treasury direct
,
treasury department
,
national debt
,
federal deficit
,
government spending
,
government shutdown
,
nick gillespie
,
meredith bragg
TOS  •  Add Keywords  •  Donate  •   Analytics  •   DMCA  •   Puzzle