Most people would guess it's unfair somehow but would be surprised to know that it's the top 10% being taken advantage of.
(This is not 'fear porn'. These are facts everyone should learn about how taxes work in general. Followed by what is about to happen due to what Biden has announced he's about to do.)
If you don't already know how income taxes vary then this information WILL shock you!
This is how taxes are expected to be paid in the United States depending on each household's yearly income is....
The top 1% of America's population earns over $540,000 a year before taxes.
They possess 21% of all yearly income in The United States.
That same 1% also pays 40% of ALL Federal Income taxes every year.
Top 10% earns over $152,000 a year moving that to 48% of all American income & they pay 71% of ALL Federal income taxes for the United States.
That's not including State taxes, property taxes, sales taxes, and of course mandatory insurance and other fees that are required by law that vary slightly depending on where you like and your business details ect....
Most of those people either themselves or their parents had a dream and some talent and worked really hard and smartly to achieve those dreams. Unlike some other countries in the world where the top currency holders come from very old money where their distant ancestors actually got what they have through very unfair and sometimes evil means. And way worse than OUR versions of evil amongst some American wealthy. Think 'Game Of Thrones' and Jeffrey the boy king. Makes our evil wealthy people look like traffic violators hugh?
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(If you'd rather listen than read, and or want more details, here is a video instead)
"United States of Venezuela: How to Prepare for the Economic Collapse | Glenn TV | Ep 138"
In President Biden's speech about 4 months ago he said this....
(his numbers are a little off here but that's not the bad part)
'Top 1%, people earning over $400,000 a year will pay higher taxes.... 39%....'
'We're going to get rid of the loopholes that allowed people making over a million dollars a year to pay a lower tax rate on their Capitol gains than the people receiving a regular paycheck.'
(This is a BLATANT lie)
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In the beginning of the video he cunningly misleads the audience with some cleverly twisted truths along with some partial lies. Lies that are so cleverly put together that if you don't already know how taxes ACTUALLY work you are likely to be fooled even if you don't trust him.
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But it's this speech from about a week ago that should terrify every freedom loving person in America....
"Biden: We are at an inflection point right now"
The first video in this article goes into details about what this 'inflection point' means for Americans in the coming months....
Knowledge is power and can be liberating BTW. Let this information inspire you to take a stand against this insanity!!
Do not be afraid!! That's what they want.... For you to feel defeated.
The great awakening is happening right now in a big way! ;)
The people hold the real power....
God bless!
Taxes on the top 1% and 10% harm all of us in more ways than one, and it is the part most people miss. It doesn't really matter what the rich pay in taxes. Because essentially even though they write the check, they don't actually pay most of it. Keep in mind MOST of this top 10% is comprised of small business operators running LLCs. If the costs of business rise through higher taxes, those taxes simply get passed on to you and I. The cost of the goods and services we buy include ALL costs, and that includes the cost of the tax.
No matter how much we collect from the rich, we pay every dime of it ultimately.
As for democrat tax plans, it ALWAYS hurts the little guy. Most people don't get that either.