Saturday, September 23, 2017
Trump's Corporate Tax Cut
Today, America's Corporate Tax rate is one of the highest in the world, at around 39% or 35%, the supposed market economy of the United States even out-taxes the chinese, whose Government overlords impose a 25% corporate tax rate on the businesses of China. Trump has clutched at the dream of a 15% corporate tax with his massive hands and despite naysayers continuously calling the idea unrealistic, Trump has doubled down on his plan to allow businesses to keep the money they have rightfully earned.
Speaker Paul Ryan, in his negotiatory manner which is indeed so negotiatory that it has negotiated itself out of the original plan, has proposed a 20% Corporate Tax Rate which while much fairer than our current Anti-Business set up in which 1 out of every 3 dollars goes the government that presides over the Land of the Free and Home of the Brave, certainly does not hit the mark that Trump has aimed for. According to Rasmussen, by a majority of 46-28, Americans think Corporate Tax cuts will help the economy, but Gallup, which really is beginning to worry me because of how different their results are from fellow pollsters, gives us a different narrative. According to Gallup, 67% of Americans believe corporations pay to little in taxes. An odd little dilemma seems to have reared its head here, on the one side, Americans think to themselves, yeah, Corporate Tax cuts would boost our economy, and on the other side, they turn around and say Corporations don't pay their fair share. The only reasonable explanations I can come up with is that either one of the Polls has an extraordinarily odd way of finding it's data, or Americans are just not receiving the facts or are not in touch with the American dream.
If what Gallup claims about Americans is true, and I have to believe it is true or else Gallup would not be such a respected pollster, than Americans' have totally escaped reality. Not only are Corporations under fire according to Gallup, but the Upper Class, the hated 1%, 63% Of americans think that the upper class does not pay it's fair share. If it wasn't obvious that many people just don't have the full set of facts before, it's painfully obvious now. According to Pew Research Center, the top 2.7% of Americans, otherwise known as those who make over 250k a year, the upperclass, payed about 52% of individual income Taxes, but apparently that isn't their fair share. Apparently if you pay 25 times the that of the average american, that's not your fair share, that's too little. 25 times the average american is too little... 10.6% of all taxes are Corporate taxes, compared to the 47% of Individual Income taxes, which makes sense since most money Corporations earn is not kept but rather goes into buying materials and paying employees, yet apparently 67% of American's want to raise that, because if there is anyway to make sure you get a pay raise, it's to lower the amount of money your company has to give out to its employees.
Obviously many people haven't looked at the numbers when it comes to Taxes, and it doesn't help that most Media outlets aren't willing to put those out there, it goes against the crusade against the 1%. Sadly, American's have taken the Founding Fathers dream, the American Dream, and torn it up and asked to have the Colonial British dream back again. Something every child does, and should learn in school, is the Revolutionary war, which now that I think about it, I haven't really learned about the Revolutionary War in school for quite some time, Sure the teachers go over the fact that Americans wanted to establish their own nation, apart from Great Britain, but do we really go into the idea of no taxation without representation? I mean Honestly, Americans went into a war, instigated by the idea of No taxation without representation and now they are clamoring for tax raises on the people they don't like. Do you know what the Tax rate on the colonies was before the revolutionary war, Probably not because Teachers never give the incredibly important details that might make people supportive of a lower income tax. The Tax on the colonies was between 1-2% of the individual income. Sure taxes may raise over time as the government becomes more monstrous and needs to consume more to perform its functions as caretaker of all things, including apparently our phone calls and emails. Thanks NSA. So to conclude this little Rant, Americans went to war partially over a 1-2% tax, but now they want to raise the 35% corporate tax to an even higher amount, and the almost 40% tax on the top 1% is apparently not high enough either. In fact just now, I saw another incredible statistic, while the top 1% pays about 45% of taxes, they only make about 16.5% of the total income.
Isn't it incredible how blatantly bias people can be. For instance, in the case of police shootings, the Black population is overrepresented, Crime rates aside, their population around 13-15% of the American population, but the police shootings level at around 23-25%. Now obviously there are various factors that show why this statistic is not one that signifies racism, but the irony I want to pull from this example is the fact that such an uproar is made over something that can be logically explained, yet there is no uproar when another type of minority, 1% of citizens, are way, WAY overrepresented in taxes. Not only is the overrepresentation clear, but in one case, movements across the nation protest and gain significant media attention, but in the other case, our Politicians say that the overrepresentation is not enough, that we have to punish them, even more. All people are equal in America, but be careful that you're not to successful, or 63% of americans might start calling for you to lose your money, and the Government certainly wouldn't object to taking more of your money.