The New York Times came out with an article in 2015 talking about how they could get $276 billion if they taxed the 1% at 45% of their income tax. Senator Sanders, Senator Warren, and a whole bunch of other Democratic Congressmen and Congresswomen believe that they could fix a lot of America’s problems if they just taxed the 1%. And that sounds good, right?
Look. If I tax the hell out of a whole bunch of people, I get a lot of money. If I suck at spending though, like the U.S does, then there goes all the money I just raised. People not “paying their fair share of taxes” isn’t the main issue. The problem is that we suck at spending money. Taxing people more in the U.S is like giving the government a credit card and increasing their spending limit. It doesn’t actually fix our wasteful spending issues.
Want an example? The left likes to argue that we spend way too much money on defense. Why, then, did 60% of House Democrats vote to increase the defense budget $111 billion more than what it already is (also more than what Trump asked for)? There goes 40% of your $276 billion!