What a surprise. Joe Biden plans to increase taxes. Well, that's what we voted for so that's what we'll get. Current plans are to tax the rich. Here in California, the top 1% of earners pay more in income taxes than the bottom 90%. So do we only tax the rich? As Margaret Thatcher used to say, "The problem with socialism is that eventually you run out of other people's money." If most of the people don't pay taxes they will just elect politicians who will increase taxes indefinitely. That never works. But if a tax increase is inevitable we at least need to counter the trend to make someone else pay. Yes, the rich will continue to pay the most. After all, they are the ones with all the money. But everyone has to pay something, as vanishingly small as that number might be.
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