I just ended an evening at my local watering hole with my homies.
One of the regulars is a flaming liberal who seems to take a liking to one Messiah.
After the crowd dwindled, my liberal bud fired out this one.
LF (liberal friend) The fact is, the rich don't pay enough in taxes!
GG Well, let me ask you. I have a client who, along with his spouse, currently makes $250,000 a year. What amount would be fair for them to pay; federal income tax alone?
LF Well, you know they get all those write offs and everything....
GG I'm asking you point blank. How much is fair, in whole dollars?
LF First, you know I'm a fan of the flat tax. These guys shouldn't have all these write offs....
GG How much should they pay?
LF Well, I don't know exactly.
GG So what you're saying is that what they currently pay is "fair".
LF No. they don't pay enough!
GG So let's do this again. How much, in dollars should they pay?
LF I'm thinking 15% WITH NO WRITE OFFS!.
GG That comes to $37,500. Is that fair.
LF Yeah, that's fair.
GG My client is currently looking at a tax liability of $44,000. So what you are saying is that they need a tax cut.
LF But they get write offs on that; right?
GG Yeah, they get all the big "write offs" mortgage deduction, taxes, charity, etc.
LF But see, they shouldn't be getting all those write offs.
GG They are already paying more with the write offs then what you say is fair without. Following your "fair" premise, they'd get a tax cut if you got rid of the write offs and went to a flat tax.
LF Whatever, they don't pay enough.....
If you want to know why Obama is in the lead, you need look no further than this conversation.