My marginal tax rate is close to 50%. How much would he like me to pay?
Your marginal income-tax rate may be 50%, but how much is your total tax? Don’t forget property taxes (even if your landlord pays on your behalf from your rent), sales taxes, payroll taxes (both employer and employee sides), highway tolls, gasoline taxes, car registration taxes, cigarette and liquor taxes if you partake, and every other form of taxes. It’s probably considerably more than your marginal rate, especially in a high-tax state like Maryland.
Now, consider that Congress decides to balance the budget and repay the debt over the next decade without decreasing spending. And your state and local governments decide to bail out their underfunded pension funds within the next decade, again without cutting spending. That’s the tax rate that awaits your children.
So who wants to pay more in taxes than he receives in income? That’s quite likely soon the situation of many good, hardworking Americans, even if they soon find jobs.
If we elect anarcho-Communist insurgency supporters like Joseph Robinette Biden, then you can expect the complete collapse of the free-enterprise system and far worse. And he’s catastrophically, amazingly still ahead in the polls.
Alternative, vote for Donald John Trump, who wants to quash the insurgency, overturn big-government bans on a third of the entire economy (bans rooted ostensibly in coronavirus hysteria), quit killing innocent babies, and save the lives of Americans and people around the world.