Over-Taxing the Rich isn’t Fair

Editorial credit: Christopher Penler / Shutterstock.com

The Democrats are already screaming that the proposed tax cut bill will benefit the rich more than it will benefit the poor. Presently, nearly 50 percent of Americans don’t pay any Federal income tax. Math is hard for some people, but not so much that a person can’t figure out that someone who makes a million dollars is going to get a bigger tax break than someone making $35,000.

Liberals are incensed when it’s suggested that “the rich” get any type of tax reduction even though the top 50% of wage earners pay 96% of all income taxes. Since they spend more money, the rich also pay a disproportionate amount in sales, property, entertainment, and excise taxes. Without the rich, millions of people would not have jobs.

The first computer my company purchased in the mid-1980s cost $7500. It was huge and could only perform a few simple tasks, mostly word processing. The floppy disks were the size of dinner plates and held very little data (360K). Almost overnight, computer prices dropped and performance levels increased dramatically. We went from kilobytes to megabytes to gigabytes to terabytes. Cell phones, tablets, smartphones, streaming video, and more are marvels of technology and getting cheaper.

What made these performance gains and price reductions possible? People with lots of money purchased the first high-priced machines. They had the financial ability to lay out “excess” capital for what most people would consider luxury items. These once luxury items — cell phones — are now so cheap that even the homeless have them. If you have a smartphone, you are holding apps that would have cost you a million dollars to acquire 25 years ago if they existed. This is a picture of one of the first records. It played one song and took up more space than an iPod that can hold up to 40,000 songs….

 

Read the Rest of the Story at Gary DeMar.com

Gary DeMar

Gary DeMar was raised in the suburbs of Pittsburgh, Pennsylvania. He is a graduate of Western Michigan University (1973) and Reformed Theological Seminary (1979). He has served as researcher and writer at the Christian Worldview ministry American Vision since 1980 and President since 1984. Today he serves as Senior Fellow at American Vision where he lectures, researches, and writes on various worldview issues. Gary is the author of 30 books on a variety of topics – from "America’s Christian History" and "God and Government" to "Thinking Straight in a Crooked World" to "Last Days Madness." Gary has been interviewed by Time magazine, CNN, MSNBC, FOX, the BBC, and Sean Hannity. He has done numerous radio and television interviews, including the “Bible Answer Man,” hosted by Hank Hanegraaff and “Today’s Issues” with Tim Wildmon and Marvin Sanders. Newspaper interviews with Gary have appeared in the Washington Times, Toledo (Ohio) Blade, the Sacramento Bee, the Atlanta Journal-Constitution, Marietta Daily Journal, San Francisco Chronicle, The Orlando Sentinel, and the Chicago Tribune.

Please leave your comments below