Taxes
To help eliminate our budget/debt problems, the debate includes taxation, increase taxes or decrease taxes the left and right will say respectively. Both will say we have a need for a new tax code, but will not agree on a proposal for a new code. Everyone who manages a checkbook has seen budget problems before and knows how to correct it - reduce expenses and increase income. Everything else we here about this subject beyond these two facts is just noise and should be ignored. The political left and right cannot agree on how to correct this problem. Doing something is also better than doing nothing, which is what this stalemate is giving us now. The left's solution to our problem is to increase taxes on the rich to increase income. Currently the top 20% of income earners pays 80% of the federal tax burden. So do we want them to pay 100%? 110%? 120%? Maybe just write the check every year for the entire cost of government, whatever it is? Clearly this is not the solution. You have also heard that in the booming 1950's the top tax rate was 90% so decreasing taxes for growth is false. First, it is true that in the 1950's top tax rates were 90%, but no one paid it. Second, marginal tax rates are a better comparative statistic and are much higher today than in the 1950s. Third, the statement is oversimplified, incomplete and the conclusion is wrong, as proven in the 1980s. The left also consistently disparages the Bush Tax Cuts, as causing income inequality and the deficits we currently enjoy. Yet these tax policies actually reduced taxes at all income levels. Plus, when faced with a chance to end them, the left extended the cuts as a positive factor on the economy. The right wants us to reduce spending and taxes, which is also a poor solution in a recessionary economy. But the truth is we must do both (reduce expenses and increase income), we must do it now and it will not be easy. Untouchable entitlements are the problem and must be restructured. Adding another entitlement, Obamacare, to this mix just makes the problem worse. All the political hot air outside these facts is simply a distraction from the difficult but obvious answer. As to a new tax code - a must. The current tax code is over 60,000 pages long! A 2012 report estimated that it took 6.1 billion hours preparing taxes. What a waste. See the 2017 Income Tax tables for your information.
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Elon Musk Proves Democrat Political Narrative is a Lie

12/18/21
from The Gray Area:
12/18/21:

Senator Elizabeth Warren called out Elon Musk and other billionaires for not paying their fair share or even that they pay zero taxes. That is a multi-decade political narrative of the left and has never been true. If fact checkers were close to ethical and useful they would have pointed this out long ago. But, even if they did, would the media stop parroting the Democrat narrative? No. Finally someone, specifically Elon Musk, publicly puts the narrative lie to bed.

And you probably remember when Sen Warren first ran for the senate, she famously said, 'you did not build that'! Addressing every successful innovator and invention in the history of the country saying you did nothing without what the government provided for you. Has there been a bigger Marxist in our government? Oh, yes, many. Bernie sanders, the 'Squad', etc. Boy are we in trouble.

from InsideEVs,
12/17/21:

Senator Warren called Musk a freeloader after he won TIME's Person of the Year award. He shed light on the lies.

Joy Reid Implies Elon Musk Is Racist, Sexist for Using the Term 'Karen'. Don't hear Joy Reid respondiong that way to the cries of 'Karen' from the left. Musk answers that question too. Elon Musk derides Joy Reid as a ‘lobbyist for Sen. Karen’ amid Elizabeth Warren tax spat

But wait, isn't the reason Musk paid little taxes in the past due to the fact that he takes no income, and all his money is wrapped up in unrealized gains? What about the fact that the reason Musk, and many other CEOs don't pay much in taxes is due to the government's rules, not their actions. That said, Warren's can certainly justify her urgency to change the tax code, but adding that Musk is "freeloading of everyone else" takes the comment to another level. To be clear, Musk is selling 10% of his shares this year to pay taxes. The CEO will pay as much as $15 billion in taxes, which just may be the biggest tax bill ever paid by a person in the US, and certainly much more than any other current CEO will pay this year. After many people responded calling Warren out for not having her facts straight, Musk chimed in, and then chimed in again, and again. He said Warren reminds him of a friend's angry mom who just yells for no reason, and he referred to her as Senator Karen.

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