Sen. Clinton and her populist buddies are opportunists, nothing more. Consider:
“Our tax code should be valuing hard work and helping middle-class and working families get ahead,” [Senator Hillary Clinton] said in Keene, N.H., as she campaigned for the Democratic presidential nomination. “It offends our values as a nation when an investment manager making $50 million can pay a lower tax rate on her earned income than a teacher making $50,000 pays on her income.”
It should equally offend our values when a teacher making $50,000 pays a lower rate on her earned income than an investment manager making $50 million pays on her income. Having a tax code that is used as a tool to push agendas, pick winners and losers, demonize success, and generate fleeting economic “equality” offends our values. Set a base exemption and tax everything – and everyone – else equally, at a rate as low as possible, regardless of an individual’s economic results.
Let me ask a question or two. If there is unfair treatment here, and it seems there is, why is the explanation always that the rich aren’t paying enough? Why is the problem never that the poor are paying too much?