Friday, June 11, 2021

Taxes

On Morning Joe today the discussion was about the lack of fairness in who pays taxes. He pointed out the some rich people pay very little tax and companies like Amazon pay no tax. He was blaming these people and Amazon for their failure to pay tax. What he didn't mention is that the people were following the laws that congress laid out. Congress was likely influenced by lobbyist when they wrote the laws. With Amazon he failed to mention that they have never paid dividends to their investors and they reinvest most of their profits back into expanding the company. He also failed to mention that the lower one half of wage earners pay zero income tax. It is acceptable to have a progressive income tax but don't blame others for the laws that congress have passed. Joe is probably paying only the tax required by law and that is just what others are doing.

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