Some Americans believe Bernie Sanders and Elizabeth Warren are wrong for using taxes to fix our system. Here is why it is this way or the pitchforks cometh.
A few months ago, I described how Trump’s tax cut scam was a strategic and hidden way to rip-off Americans by transferring their wealth to the rich. Please check out that post here.
Put to be clear, our tax system for decades has allowed the rich and corporations to deduct things we cannot and as such keep a bigger portion of the pie. Two of the biggest culprits are capital gains and property taxes.
There is no reason that income from gains one makes in their stock should be taxed at a lower rate than people who go out and work every day. It is an entitlement for the rich.
Everybody pay property taxes on their most important assets. They pay property taxes on their homes, their cars, and much more. Why should we shield the assets of the wealthy, stocks, bonds, and other financial assets from taxes? It is theft. After all, the military and economic activity of us all ensures their capital is safe. They must pay for that.
Please read the article acknowledging the realities of our tax system. Do not get swayed by arguments trying to justify preferential or entitled to treatment of the rich. They may have executed within the realms of our economic system on a good idea like many of us have. Remember, no wealthy person could be there absent us all.
Sanders Proposes Corporate Tax to Address Pay Gap at Big Companies
By Matt Stevens
Senator Bernie Sanders of Vermont proposed a new corporate tax on Monday that would penalize some of the country’s largest companies if they did not narrow the gap between what they pay their chief executives and what they pay their workers.
The proposal is the latest measure from Mr. Sanders aimed at reducing income equality — a pillar of his campaign for the Democratic nomination for president.
It is also the latest example of the commitment by Mr. Sanders and his leading progressive rival, Senator Elizabeth Warren of Massachusetts, to use America’s tax system to address the wide gulf between ordinary Americans and the rich.“The American people are sick and tired of corporate C.E.O.s who now make 300 times more than their average employees, while they give themselves huge bonuses and cut back on the health care and pension benefits of their employees,” Mr. Sanders said in a statement. “They want corporations to invest in their workers, not just dividends, stock buybacks and outrageous compensation packages to their executives.”
New York Times