Progressives love to liken Bernie Sanders to Robin Hood. All of his proposals are to the tune of stealing from the rich and giving to the poor. We won’t even touch on how wrong it is for representatives to embrace the idea of theft. Instead, we’ll point out that Robin Hood didn’t steal from the rich. He stole from tax collectors who were taking from the poor to give to the rich. He simply gave his people back what was rightfully theirs in the first place.
For a modern analogue, Bernie is the tax collector, or the Sheriff of Nottingham. Trump and his crew are the ones trying to return tax money to the people who earned it.
Liberals Are Confused About Taxes
Folk tales aren’t the only thing liberals fundamentally misunderstand. Their basic comprehension of taxes and economics are similarly laughable. This is no more apparent than when an experiment was recently conducted on the grounds of George Washington University. In it, a research team conducted interviews with students to get their views on Trump’s new tax plan. When they asked outright, they received nearly unanimous disapproval from the student population.
In phase two of the experiment, they discussed individual components of the proposal with students, claiming the ideas came from Bernie Sanders. The researchers found that a vast majority of the students agreed with the ideas of eliminating the death tax, increasing child care tax credits and lowering tax rates on small businesses. Surprisingly, the students did not backtrack when it was finally revealed that they were agreeing with Trump’s proposal.
You can watch the video of this experiment at the bottom of the page.
We can go on for days about each way liberals apply stupidity to their tax plans, but none is worse than their views on corporate tax structure. To the simplistic mind, a corporation is a powerful and wealthy entity that only makes money by exploiting poor people.
What liberals en masse fail to realize is that well over 90 percent of small businesses are incorporated. These are businesses that bring in modest profits but still supply half of all jobs across the country.
Somehow, liberals have come to believe that Robin Hood would brutally tax these businesses to subsidize healthcare initiatives that put money in the pockets of the richest Americans. Calling it asenine feels like an understatement.
Trump’s Tax Plan
This is why it’s important that we trick liberals into supporting something that is good for them. Trump’s tax plan is actually very Robin Hood in its approach. Trump wants to simplify brackets and completely eliminate federal income tax for the lowest group. He wants to bring small-business tax rates down to 15 percent, and he wants to stop double taxing inheritance.
While the liberals will complain that this is a tax break for the super rich, the death tax really only cripples lower income groups who can’t afford the myriad loopholes that dodge the tax. In fact, closing loopholes is the primary goal of Trump’s proposal. He has noticed that you can give tax breaks to most of America without reducing tax revenue at all if you simply get rid of the loopholes exploited by the wealthiest Americans.
Once clear example of this is foreign cash holdings. Under the current plan, businesses that earn revenue overseas are granted a deferred tax status. They don’t pay anything until they bring the cash back into the States. To avoid that 40 percent tax rate, they simply keep the cash overseas indefinitely. Apple Inc. has hundreds of billions of dollars that fit this descriptions. Overall, corporate foreign cash holdings are estimated at $2.5 trillion. Trump has an easy solution for this. He’s going to eliminate tax deferral. To be fair, he’s going to offer a one-time tax break on repatriating this cash at a rate of only 10 percent. To fully close the loopholes, he’s going to tax all foreign holdings, whether companies choose to repatriate the money or not.
Many large companies, like Apple, have expressed that they would happily bring this money back to the U.S. if they were offered a fair tax rate. Trump is supplying that, and the result will be an extra $250 billion in tax revenue.
If this sounds complicated, please allow me to simplify it. The liberal plan has a huge on-paper tax rate for the rich, but with all of the loopholes they end up paying no actual money to the IRS. The Trump plan lowers the on-paper rates, but will actually bring in more revenue because the taxes can’t be dodged.
It should come as no surprise that simplifying tax code is the key to lowering the burden on the middle and lower class without destroying the federal budget. What is surprising is how easily liberals can be tricked into agreeing.
This is without a doubt the most important issue of Trump’s presidency, so we have to do whatever it takes to fix the tax structure. The economy will follow, and without the rampant poverty of Obamanomics, the socialists will lose their growing support.
~ American Liberty Report