For years, President Obama has been pushing for tax increases on the wealthy class. One of the most recent tax proposals put forward is the so-called Buffet Rule, based on the billionaire Warren Buffet’s article written in New York Times, in which he revealed a supposedly shocking fact, he paid less in taxes than his secretary. He argued that anybody making over $1 million is already super-rich and placed in a tax bracket that caps the taxable income at 15%, which is mostly due to earning income on investments and dividends (making money with money) instead of wages from gainful employment (making money from a job).
Recently, it made news that President Obama paid less in taxes than his White House secretary, thus underscoring his point that it’s time to tax the rich.
The White House would not disclose what Breckenridge paid, saying only that it was a “slightly higher rate” than her boss’. That “is exactly why we need to reform our tax code and ask the wealthiest to pay their fair share,” said White House spokeswoman Amy Brundage.
Even if the proposed Buffet rule had been in place last year, Obama would not have paid his taxes at 30% tax rate, as his total income fell under $1 million. Nonetheless, he is determined to engage in class warfare and try to squeeze money out of the rich as much as possible. Unfortunately for him, not even the Joint Committee on Taxation agrees with him and its analysis of the Buffett Rule indicates that not much money would be raised anyway. Is it fair to ask the wealthy class to pay more in taxes? Perhaps, but is that out of fairness for the people’s sake or a desire to punish the rich for being successful in making a lot of money?
If Obama insists on pushing this silly tax proposal, then let’s turn the table on him. If he wants a genuine tax reform, then how about doing something to LOWER his White House secretary’s tax bracket? It’s a radical idea, but instead of trying to increase the rich’s tax bracket, how about lowering the tax brackets across the board except for the rich? That way one can legitimately claim that the rich would pay more in taxes, and still preserve the idea that the low tax rates will truly encourage more commerce and actually increase the revenues for government. Don’t just cut taxes or give tax breaks to everybody, let’s work on lowering the tax rates and reform the tax code to make it more simple for people to file tax returns annually. Remove the deductions, exemptions, subsidies, and every other tax gimmick one can think of, and make it a less painful and exhausting task to file taxes.
If we say that all men are created equal, then it is also valid to assert that all citizens are equal in this country. Thus each man has one vote, each vote being equal, and all share in shaping what sort of country America should be politically, economically, and culturally. Hence each man’s stake is equal regardless of that individual’s social or economic status. Basing upon this premise, even the citizens who make lots of money are equal to each other and to the less fortunate citizens as well. After all, America was not founded upon classes divided along social and economic lines. If it were so, then it’s only fair to give the rich an even greater stake and more influential roles in molding this country into whatever shape they see fit. Of course, that is not what America is all about.
On a final note, I am reminded of an Old testament commandment from God to His Chosen People. God commanded all Jews to tithe, regardless of their social and economic status. Each Jew is commanded to tithe equally, and of course, some will give more than others out of their willing hearts, but above all, each must give what is required of God. A rich Jew will be rebuked for not tithing, and likewise a poor Jew is expected to do of the same thing. Perhaps we can learn something from the heavenly wisdom. For the citizens of a temporal country, each should share the burden equally just as God is just and wise in commanding each Jew and Christian alike to tithe equally for they are indeed His servants and citizens of the Heavenly Kingdom.
Cross-posted at Deaf Conservative’s Domain