One of the things about being a conservative, writing on behalf of America, is that you will be trolled by liberals. Whether you blog, tweet, spread news you read, and/or do radio (I do all) you had better be prepared to back up what you say. Last night on my Twitter handle I got into a debate with a less than informed Obama zombie about taxes. So let me explain some background on tax experience.
I worked for the IRS for three years. I have dealt first hand with the war on success by this administration. So let’s go over the ignorance of the tax situation, because I don’t think many know what’s going on.
First of all, let’s talk about Mr. Obama claiming he would not raise taxes on lower tax brackets in America. I can prove this is a lie. If you have the time to take a look at some IRS pamphlets, I want you to look at the Publication 15. This is the employer’s tax guide.
In 2010, the lowest bracket, with no dependents, paid 18 dollars in income tax for every 300 dollars earned on a bi-weekly pay schedule. 2011 has the same deal, except now you have to pay 35 dollars. In one year it almost doubled! So much for that promise of not raising taxes if you make less than 250 thousand a year (on the lowest bracket that equals approximately 7200 dollars a year earned).
Ok. So that lie is defeated. Let’s move on to capital gains tax.
Here’s a fun fact: if you retire with a 401(k), you have two avenues of income (on average): your retirement, which is taxed at 15% for capital gains and social secirity, which has a 10% income tax attached to it. A good amount of capital gains taxpayers happen to be retirees with no additional income. By raising capital gains, you would hurt every senior!
Granted, there are some folks that did some successful investing and wound up rich. They get capital gains too. But the taxes are on money the person put in AFTER they had their income taxed (anywhere from 10-36%). So they are being taxed twice.
Now let’s talk about those evil business owners not paying their fair share.
Typical business owner incorporates. Corporate income tax is 35%. Then the owners pay themselves, where most fall into the 36% bracket. Then they pay their employees (and they have to pay 6.2% of that paycheck for FICA with the employee’s 4%, and a matching medicare). Do the math there, and you can see that they are paying a lot more than people think. Most also have capital gains at 15% of what’s earned there. They also pay FUTA (Federal Unemployment Tax) which is on top of their state requirements.
I know it’s a lot to absorb, but go look up the tax information. It’s available to the public. I just have a leg up with my work experience. If you don’t believe what I have to say, go to IRS.gov. While there search the following terms:
You will find my information is solid, and you’ll then realize why unemployment is so high; employers can’t afford it while more is being asked of them. They already pay for the vast majority of things our government wastes money on.
Before debating know your facts.
Numquam cede, Libertatem aut mors.