Shocking Truth: Who Pays 95% of All Income Taxes? [Video]

Craig Huey Taxation Leave a Comment

Progressives and their friends in the media say it so many times, Americans think it’s true:

  • Tax cuts only favor the wealthy.
  • The rich don’t pay their fair share of taxes.
  • The average American doesn’t benefit from corporate tax breaks.

These arguments are not only tired and unfair, but history has shown them to be patently untrue.

Here is a shocking fact: The country’s Top 20 percent of income earners who file tax returns pay 95 percent of all income taxes.

These are 2016 numbers, up from 84 percent in 2015.

But … but… that’s not what the media and politicians tell us.

Progressives instinctively fight the notion that any tax reform that benefits businesses, be they a small business like mine, or large corporations, do not help the middle income or poor.

Nothing could be further from the truth.

John F. Kennedy cut taxes, and spurred more business growth, creating more jobs and wage growth.

Ronald Reagan cut taxes and it, too, led to an economic boon, creating more jobs and wage growth.

President Trump is pushing for the same thing: Tax reform will lead to an economic boon.

Everyone benefits when you get to keep your own money and not waste it on bureaucracy.

Our tax system is broken. It is a bureaucratic nightmare of forms. The tax structure stifles economic growth.

Trump wants to overhaul this tax system with one that is:

  • Fairer for all Americans
  • Simplify the tax code and make it easier to file.
  • Puts money back into the pockets of the middle class.
  • Cut out special interest loopholes
  • Reignite America’s economic engine that has been stifled the last eight years by an anti-business administration.

Progressives have not figured out that businesses pass the cost on to the consumer. Any tax cut can ONLY benefit the consumer in lower prices.

But the socialists always want to tax the “rich” more.

It’s not a Democrat or Republican issue. It’s an economic fact that the more you keep of your own money, the better – even the rich.

Watch this informative 5-minute video of Mick Mulvaney, director of the Office of Management and Budget, talk about spending, budgets and tax reform on “Face the Nation.”

What do you think? Write me at craig@craighuey.com

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