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P. 48
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FErleid FAIR SHARE
PolWlocekiss AND WELFARE
T here has been a lot of talk the
past eight years about “income now.” (Greater “contributions” is of sums in mind, consider these families.
inequality,” a term which means course a euphemism for raising taxes.
that some people in our society And obviously, if you raise taxes on Case Number One
have excessive amounts of General Mills and Proctor and Gamble, The first family has three children.
the buyers of Cheerios and Tide are Dad is self-employed and earns
money while others struggle to paying it.) $25,000 after his accountant deducts
meet their needs. While that So what do Obama and Clinton relevant expenses, like car, home
may be true, instead of thinking mean by fair share, given that these office, internet, cell phone fees, etc.
about creative ways to attack this com- companies follow the tax laws and pay How much tax will he owe? The
plicated problem, the liberal left, Robin everything the law demands? (They answer is none. In fact, the govern-
Hood-like, zeroes in on something also pay the highest corporate tax rate ment will actually give him money. Yes
called “income redistribution.” In other in the world.) Two professors of folks, he gets a refund even though he
words, the solution is higher taxes on accounting recently wrote that the paid no taxes! It’s called the earned
big earners and corporations in order term “fair share” has no meaning. They income credit, and it is like a retail
to transfer that money to low income therefore suggest that perhaps a line store giving change to customers who
people via expanded welfare. should be added to a tax return. On are window shopping. How much? He
Many Americans receive such wel- that line, those who feel they paid too would get back $7,178!
fare in the form of food stamps, much should be allowed to reduce the Now, let’s say that the following year
Medicaid, and Section 8 housing. amount to what they think is fair, while he makes $50,000. How much tax will
Given this reality, the question I want those who feel they should be paying he owe on the extra $25,000? The
to discuss here is, does it really pay to more could add money to increase answer is $4,974. Plus, he will lose that
work for a living and shell out for their tax bill and make it fair. Clearly, nice “refund” of over $7,000. That
taxes, or is it better to just live on the this new jargon of “fair share” must be means he is effectively paying $12,152
dole? explicated further. Does it apply only to tax on that extra $25,000, a total of
I bet I’ve upset some of you already. the rich? Let’s find out about fair share 48.6%. Yes, the government takes
How can I even suggest that people by using examples from our own com- almost half of the extra amount this
take welfare? What happened to self- munity. Dad made. But we are not done yet.
reliance and pride? Yes, the question This couple will also lose much of their
upsets me, too, as it goes against my Life Is Not Cheap
Maryland Homeowners tax credit. This
work ethic. But I did not write tax law, First of all, a generality: Taxes are credit’s formula increases your taxes by
so let’s examine the tax rules and how high. A typical family with two chil- 9% of your earnings. That brings the
they affect both rich and poor. dren and $100,000 in income will total tax on the extra $25,000 to
Paying One’s Fair Share owe $22,000 in taxes. Add to that 57.6%. So far, this man’s “fair share” of
tuition, which is a small fortune, and taxes on the second $25,000 is
The president of the United States has they are barely getting by. Moreover, $14,400. He gets to keep only $10,600
often accused corporations and “the as income rises, taxes rise significant- of his extra earnings.
rich” of not paying their “fair share.” ly as well, to over $55,000 on an Scary? Yes, but we are still not done.
Hillary Clinton, too, said, “We are going income of $200,000. This is a signifi- There is also welfare. What if this fam-
to have the wealthy pay their fair share. cant bite, especially since, unfortu- ily loses $500 per month in food
We’re going to have corporations make nately, people’s expenses usually grow stamps alone as a result of their high-
a contribution greater than they are to meet their income. With these er earnings? That is $6,000 per year, or
40 u www.wherewhatwhen.com u
FErleid FAIR SHARE
PolWlocekiss AND WELFARE
T here has been a lot of talk the
past eight years about “income now.” (Greater “contributions” is of sums in mind, consider these families.
inequality,” a term which means course a euphemism for raising taxes.
that some people in our society And obviously, if you raise taxes on Case Number One
have excessive amounts of General Mills and Proctor and Gamble, The first family has three children.
the buyers of Cheerios and Tide are Dad is self-employed and earns
money while others struggle to paying it.) $25,000 after his accountant deducts
meet their needs. While that So what do Obama and Clinton relevant expenses, like car, home
may be true, instead of thinking mean by fair share, given that these office, internet, cell phone fees, etc.
about creative ways to attack this com- companies follow the tax laws and pay How much tax will he owe? The
plicated problem, the liberal left, Robin everything the law demands? (They answer is none. In fact, the govern-
Hood-like, zeroes in on something also pay the highest corporate tax rate ment will actually give him money. Yes
called “income redistribution.” In other in the world.) Two professors of folks, he gets a refund even though he
words, the solution is higher taxes on accounting recently wrote that the paid no taxes! It’s called the earned
big earners and corporations in order term “fair share” has no meaning. They income credit, and it is like a retail
to transfer that money to low income therefore suggest that perhaps a line store giving change to customers who
people via expanded welfare. should be added to a tax return. On are window shopping. How much? He
Many Americans receive such wel- that line, those who feel they paid too would get back $7,178!
fare in the form of food stamps, much should be allowed to reduce the Now, let’s say that the following year
Medicaid, and Section 8 housing. amount to what they think is fair, while he makes $50,000. How much tax will
Given this reality, the question I want those who feel they should be paying he owe on the extra $25,000? The
to discuss here is, does it really pay to more could add money to increase answer is $4,974. Plus, he will lose that
work for a living and shell out for their tax bill and make it fair. Clearly, nice “refund” of over $7,000. That
taxes, or is it better to just live on the this new jargon of “fair share” must be means he is effectively paying $12,152
dole? explicated further. Does it apply only to tax on that extra $25,000, a total of
I bet I’ve upset some of you already. the rich? Let’s find out about fair share 48.6%. Yes, the government takes
How can I even suggest that people by using examples from our own com- almost half of the extra amount this
take welfare? What happened to self- munity. Dad made. But we are not done yet.
reliance and pride? Yes, the question This couple will also lose much of their
upsets me, too, as it goes against my Life Is Not Cheap
Maryland Homeowners tax credit. This
work ethic. But I did not write tax law, First of all, a generality: Taxes are credit’s formula increases your taxes by
so let’s examine the tax rules and how high. A typical family with two chil- 9% of your earnings. That brings the
they affect both rich and poor. dren and $100,000 in income will total tax on the extra $25,000 to
Paying One’s Fair Share owe $22,000 in taxes. Add to that 57.6%. So far, this man’s “fair share” of
tuition, which is a small fortune, and taxes on the second $25,000 is
The president of the United States has they are barely getting by. Moreover, $14,400. He gets to keep only $10,600
often accused corporations and “the as income rises, taxes rise significant- of his extra earnings.
rich” of not paying their “fair share.” ly as well, to over $55,000 on an Scary? Yes, but we are still not done.
Hillary Clinton, too, said, “We are going income of $200,000. This is a signifi- There is also welfare. What if this fam-
to have the wealthy pay their fair share. cant bite, especially since, unfortu- ily loses $500 per month in food
We’re going to have corporations make nately, people’s expenses usually grow stamps alone as a result of their high-
a contribution greater than they are to meet their income. With these er earnings? That is $6,000 per year, or
40 u www.wherewhatwhen.com u
