A Quote by Bernie Sanders
The billionaires pay an effective tax rate lower than nurses or truck drivers. That makes no sense at all. There has to be real tax reform, and the wealthiest and large corporations will pay.
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When you say the tax system benefits the rich, there are a lot of people who respond, "That can't be true, look at the rate of tax. The people who are rich pay a higher rate than you or I." Well, yeah, but if you don't have to pay taxes on a lot of your income, then your real tax rate is a lot lower. And if you're allowed to pay your taxes thirty years from now instead of today then you're a lot better off. People need to have a sophisticated understanding of how the system works to appreciate that the posted tax rate really has very little to do with the taxes people pay.
You got to remember, S corporations pay one layer of tax, corporations pay two layers of tax. So we basically see equivalent, but here`s the point. The rest of the world, they tax their businesses at an average rate in the industrialized world of 23 percent. Our corporate is 35. Our top S corporate, small business rate is 44.6 effectively. This is killing us.
We need real tax reform which makes the rich and profitable corporations begin to pay their fair share of taxes. We need a tax system which is fair and progressive. Children should not go hungry in this country while profitable corporations and the wealthy avoid their tax responsibilities by stashing their money in the Cayman Islands.
Research has shown that middle-income wage earners would benefit most from a large reduction in corporate tax rates. The corporate tax is not a rich-man's tax. Corporations don't even pay it. They just pass the tax on in terms of lower wages and benefits, higher consumer prices, and less stockholder value.
Corporate tax reform is nice in theory but tough in practice. It most likely requires lower tax rates and the closing of loopholes, which many companies are sure to fight. And whatever new, lower tax rate is determined, there will probably be another country willing to lower its rate further, creating a sad race to zero.
If you're in people's living-rooms, via the television, it's what happens. You're more noticeable. But I'm not aware that anyone has said I pay a lower rate of tax. I don't. I pay my full share of tax, believe you me.
I hope people understand that when you tax corporations that the concrete and the steel and the plastic don't pay. People pay. And so when you tax corporations, either the employees are going to pay or the shareholders are going to pay or the customers are going to pay. And so corporations are people.
Mr. Trump is proud to pay a lower tax rate, the lowest tax rate possible. He fights for every single dollar. That's the mindset you want to bring to the government.
We will lower the tax burden on middle class Americans by asking the very wealthy to pay their fair share. Middle class taxpayers will have a choice between a children's tax credit or a significant reduction in their income tax rate.
The appreciation of capital assets is already taxed at an extremely favorable rate compared to labor. That's why the rich pay such a low effective tax rate no matter what their marginal tax bracket.
Millions and millions of people don't pay an income tax, because they don't earn enough to pay on one, but you pay a land tax whether it ever did or ever will earn you a penny. You should pay on things that you buy outside of bare necessities. I think this sales tax is the best tax we have had in years.
There's something wrong when hedge fund managers pay lower tax rates than nurses or the truckers
We must reign in overspending by ridding government of outmoded programs, making Big Oil pay their fair share, repealing massive tax breaks for corporations that ship jobs overseas, and enacting a tax code that no longer favors millionaires and billionaires.
Why is it that half of the households in America pay zero income tax? We need some real tax reform.
I'd like to help struggling homeowners who can't pay their mortgages, I'd like to invest in our crumbling infrastructure, I'd like to reform the tax system so multimillionaires can't pretend their earnings are capital gains and pay at the rate of 15 percent. I'd like to make public higher education free, and pay for it with a small transfer tax on all financial transactions. I'd like to do much more - a new new deal for Americans. But Republicans are blocking me at every point.
Now, the president would like to do tax reform, which would obviously lower rates for most people in America and make the tax code fair and get rid of loopholes and special treatment. But absent tax reform, the president believes the right way to get our fiscal house in order is ask the wealthy to pay their fair share.
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