Wednesday, October 10, 2012

Why “You Didn’t Build That” Is So Offensive

There’s a great piece over at Tigerhawk on why Obama’s (and Elizabeth Warren’s) “you didn’t build that” argument is so offensive to the business community. You should definitely read the whole thing but here is a brief excerpt that takes on the typical leftist’s straw man argument that the rich don’t want to pay “their fair share” :

Anyway, I know a great many "successful" people, and not one of them believes that "successful" people should pay less tax, either in absolute terms or as a percentage of their income, than "unsuccessful" people. Further, I am unaware of anybody important who advocates that result. When politicians on the left argue otherwise, they are dishonest. Not only have "successful" people paid an ever higher proportion of direct taxes at all levels, but they are paying a higher proportion relative to their own share of national income. In 2010, I paid 42% of my income in direct taxes -- income, FICA, Medicare, and property -- divided by adjusted gross income. That is a higher proportion than any "unsuccessful" person would pay, and it obviously does not include sales taxes, gasoline taxes, excise taxes, "fees" paid to governments so I can do something I should be allowed to do anyway, taxes on my wages paid by my employer, and corporate taxes paid by companies in which I have invested. If the taxes I pay are not a high enough proportion of my income for Warren and Obama, how high should it be? President Obama believes it should be substantially more and it will be on January 1, 2013 unless Mitt Romney wins. Personally, I do not believe I am failing to pay my "fair share" by forking over more than 42% of everything I earn to the government. If you do, then please tell me how much of my time I "should" work for the benefit of the government? We need to understand what liberals believe.

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