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Originally Posted by Rainger99
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The article says, “ Essentially, it answers the following question: Are incomes more, or less, equal after state taxes than before? If high-income taxpayers are left with a higher percentage of their pre-tax income to spend on their day-to-day living and to save for the future than low- and middle-income taxpayers, the tax system is regressive and receives a negative Tax Inequality Index value.”
In other words, “Rob the Rich and Pay the Poor.” In places like DC, NJ, NY, and CA, however, it’s not “the rich” who get soaked. It’s most homeowners, most people with decent jobs that pay an average income. Presidents Obama and Biden suggested raising federal income taxes on income over $400,000 a year for a single person. Hardly anyone in The Villages has ever made that sort of money. I certainly never did. It wouldn’t affect us negatively. But these are states that are soaking people making over $50,000 a year. I don’t want to “end income inequality.” That’s a Communist idea, even if most of the people clamoring for it don’t realize it’s a Communist idea. Down that road lies madness, as they say.