Time and time, again, Hillary Clinton keeps repeating her Bernie Sanders-lite comment that she would pay for all her spending plans by taxing the rich, because they should pay their fair share. But really, what is the definition of "fair share"? To Bernie Sanders, it was 90%. Hillary believes that there should be another 4% added on to the current top tax rate 39.6%, plus a 3.8% surcharge that was introduced for ObamaCare. In addition, they pay hefty real estate taxes on all their properties and large amounts of monies in state income taxes. But, Hillary says that's not enough. In fact, if she does become president, she will ask the rich to pay even more so she will be able to buy even more votes with some new social program that conjures up.
It was no surprise that she brought up Trump's wealth during the debate and reiterated the "fair share" pitch. But, here's the reality, the top 1% of tax payers pay more in taxes than the bottom 90% of tax payers. At the same time, 45% of American's pay no taxes. Well, is that fair?
Personally, I would prefer a person like Trump to keep more of his money because I know he will use it to build more properties, and in the process: Create Jobs. Highly paid jobs to construct the buildings and good paying jobs to staff them. That is something the federal government doesn't do with the money it is given. Trillions in tax dollars has been paid, and still we have a large number of people living in poverty, without jobs. The worst place for money to go is the federal government, where abuse and fraud are rampant.
Lastly, increasing taxes on the rich will only give them a reason to take their money and leave the country. France found that out when it raised taxes on the wealthy. After all, the rich are highly mobile and aren't necessarily tied to a specific job. Of course, if we start losing our rich, who will pay for all the benefits that those 45% who don't pay taxes are enjoying?
To Ensure Tax Fairness, Clinton Unveils New 'Fair Share Surcharge: https://www.hillaryclinton.com/briefing/factsheets/2016/01/11/to-ensure-tax-fairness-clinton-unveils-new-fair-share-surcharge-on-multi-millionaires/
The Top 1 Percent Pays More in Taxes than the Bottom 90 Percent: http://taxfoundation.org/blog/top-1-percent-pays-more-taxes-bottom-90-percent
45% of Americans pay no federal income tax: http://www.marketwatch.com/story/45-of-americans-pay-no-federal-income-tax-2016-02-24
New figures published this week suggest that an increasing number of France’s top earners are leaving the country, with some observers blaming high taxes for the rising “wealth drain”: http://www.france24.com/en/20150808-france-wealthy-flee-high-taxes-les-echos-figures