American Elephants

Democrats Don’t Understand Basic Economics by The Elephant's Child

I’m sure that you have heard Nancy Pelosi and other Democrats claiming that President Trump’s tax cuts only go to the rich, and the common people get shafted. Uh huh. Of course they know better, but Democrats want high taxes so they can give stuff (benefits) to the deplorables out there to get their votes. Or, it’s also possible that they just didn’t do well with percentages when they were in school. The rich, and among them are many of the Democrats in Congress, including Ms. Pelosi, earn a heck-of-a lot more than most of us.

The most recent figures I could find are for 2015, indicating that the top 1% pay nearly half of all federal income taxes.  The bottom 80% are expected to pay about 15% of all federal income taxes in 2014. That’s because the rich earn an outsized share of all income. You can also add in the notation that they can afford the very best accountants and lawyers to help them pay as little as possible. Surprisingly, no one seems to want to pay a cent more than they have to. Since their income is outsized, when there is an across the board tax cut of – say 2% – that means a far bigger chunk of money to the big income people than it does to the small income people.

That simple exercise in percentages is why the Democrats get away with proclaiming that the Trump tax cuts only go to the rich. They are trying to make the deplorables angry and envious of the rich and hate the president who came up with the tax cuts that weren’t fair. They haul it out for every Republican tax cut, so that people will think that all the economic expansion, the full employment, the prospering economy that needs more workers, is somehow a fraud, and for God’s sake don’t even thing of voting for any Republican. Vote for Democrats who will stop all this nonsense and give you a nice familiar recession.

There’s also the very real possibility that they just have no understanding of basic economics.

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