Regarding presidential campaign statements about taxes, both candidates have offered positions stating a desire to do something for the “middle class.” However, Vice President Kamala Harris’ rhetoric seems to fly in the face of reality. In her interview with MSNBC’s Stephanie Ruhle, Harris said, “We’re going to have to raise corporate taxes, and we’re going to have to make sure that the biggest corporations and billionaires pay their fair share. … That’s just it. It’s about paying their fair share.”
To assert that the biggest corporations and billionaires do not pay “their fair share” is patently false. Data gleaned from the IRS confirms that those with an adjusted gross income (AGI) in the top 1% of returns are responsible for nearly 40% of the total revenues collected. The 52% of those with an AGI of less than $75,000 are only responsible about 7% of revenues.
While all of us would like to have more money to spend, raising taxes on the biggest corporations and billionaires under the guise of rhetoric that purports an underlying unfairness is both inflammatory and disingenuous. We would all be better served by a government that is focused on smart spending and not limitless tax increases.
John Irvin
Lower Burrell