SCAM: Taxes and the Vapid States of America

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Wow. Taxes and the vapid states of America. Yep. No, United States. Vapid states of America. I mentioned that line before from Donald Luskin, conspiracy to keep people poor and stupid. I love that line from the 1990s, but you know, you don’t have to participate in that conspiracy. And unfortunately,

Most Americans do. And the numbers out here are staggering, staggering. Now what we’re told all the time by the Elizabeth Warrens, the Joe Biden’s, the leftists out there that the rich don’t pay their fair share. And the line works. The line works on people out there because people are willfully ignorant.

And I, you know, again, I don’t like being harsh, but you know, sometimes, you know, you need a little bit of reality. Okay, you’re walking around your phone, you’ve got Instagram, you’ve got TikTok, you know, you watch all this crap, you follow the Kardashians, you’re willfully ignorant if you don’t understand how the tax system works here in the United States, and you can fall prey.

to these people in Washington, DC and the lies that they tell. So in this new poll that was put out here and who put the poll? Oh yeah, yes, the Tax Foundation and it was conducted by Public Policy Polling. To the best of your knowledge, how much do you think the top 1 % of taxpayers by income account for in terms of total?

federal income taxes paid? 1%, 12%, 42%, or 64%. As of 2020, the correct answer is 42%. Less than a quarter.

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less than 25 % of those survey got that right. 22%, a third of them, more than a third, Democrats felt that way. They thought the top 1 % of taxpayers paid only 1 % of income taxes. That’s right. Okay, 22 % of the people thought that the top 1 %…

here in this country as far as earners only pay 1 % of income taxes. 25 % thought it was 12. 25, 19 % said that they weren’t sure.

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I don’t know. I mean, is there some way that maybe, maybe the Republicans can go on some sort of campaign, they’ve got greater reach than I have when it comes to getting the word out. But now, you know, they go on Fox and Handy’s program, and they talk about, for lack of a better word or phrase, bullshit, rather than things that are actually important. Other other information from this poll.

a 40 % of respondents, 40 % like the idea of increasing the child tax credit. But 25 % thought that a tax credit and a tax deduction are the same thing. I would bet you if they did a poll asking about debt and deficits, people would say, oh, it’s the same thing. Anyway, another 20%.

incorrectly believe that a deduction is more valuable than a credit, 19 % weren’t sure.

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Again, I don’t want to embarrass you. Okay, if you don’t know, now you’re going to know. A tax deduction lowers a filer’s taxable income. Like if you can deduct the interest on part of the interest on your home, if you own a business and you can deduct something from whatever it may be, it lowers your taxable income. And the reality is most people don’t itemize

Anyway, they take the standard deduction of $13 ,850. Anyway, tax credits are giveaways. We’re giving away cash. Dollar for dollar reduction in taxes owed. When the credits are refundable, the government writes a check. Even if you don’t pay a dime in taxes, they’re giving away. Anyway.

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54 % of those surveyed said they’d shift the tax burden by having high earners pay more. You don’t say. The basically the fair share nonsense. Again, the lie becomes the truth. But what was interesting here and Wall Street Journal covered this today in an editorial. What do you think would be a fair top tax rate on income? 0%, 10%, 20%, 30%, 40 % or higher?

71 % chose a figure of 30 % or less. 71%. Only 5 % said they wanted a top tax of 48 % opted for even higher than that. OK. Again, people, the highest marginal tax rate for income is 37 % right now. No, they didn’t realize that. Now, obviously, state and

local taxes, you can be well above 50 % in places like California and New York. Again, people, there’s really not much of an excuse for you not to understand how these things work. This is your country for crying out loud. This gets into the thank you for not voting. If you don’t understand the issues of the day,

You know, don’t go into do us all solid. Don’t go into a voting booth. I mean these poll numbers are just quite frankly Vapid watchdog on wallstreet .com