Part of our core mission? Exposing the Left's blatant hypocrisy. Help us continue the fight and support the 2024 Year-End Campaign now.

April 12, 2019

Why ‘Tax the Rich’ Demands Are So Unreasonable

If I told you there was a movement to create a navy or air force, you might respond, “Don’t we already have those?”

If I told you there was a movement to create a navy or air force, you might respond, “Don’t we already have those?” If I said we need a movement to convince bears to relieve themselves in the woods, you might say, “Wait. Isn’t that happening already?

But if I said we needed to tax the rich, a lot of people’s first reaction would be, "Yes! It’s about time!”

In fact, there’s an astroturf movement based on precisely this notion. There was just a big conference, fittingly named the “Tax the Rich!” conference, hosted by a group called Patriotic Millionaires.

“Tax the Rich. Save America. Yes, it really is that simple,” they explain in their mission statement.

This slogan is simply dishonest; rich people do, in fact, pay taxes. Just under half (48 percent) of federal revenue comes from income taxes. If you define the rich as the top 1 percent — which is probably too narrow, depending on the region of the country — the rich pay a big chunk of that. In 2016, according to the Tax Foundation, the top 1 percent accounted for 37.3 percent of all income tax revenue, a share that was greater than the bottom 90 percent of all payers of income tax combined. The top half of taxpayers paid 97 percent of income taxes.

The Tax Policy Center estimates that 44 percent of Americans won’t pay any federal income taxes for 2018. That doesn’t mean they don’t pay any taxes, of course. Payroll taxes eat up a big chunk of many Americans paychecks — a fact we all learn the first time we shout, “Who the hell is FICA!?”

But the income tax is remarkably progressive. Once again citing the Tax Policy Center (a joint project of two left-of-center think tanks: the Brookings Institution and the Urban Institute), Americans in the top 20 percent paid an estimated 87 percent of income taxes for 2018. This was up from 84 percent in 2017, which means that the “Trump tax cuts” actually made the tax code more progressive.

The folks shouting “Tax the rich!” know this, which is why, when they move beyond sloganeering, they say that what they really want is for the rich to “pay their fair share.” This is a more debatable claim because “fair” is in the eye of the beholder. It’s not preposterous to argue that the rich, however defined, should pay a few percentage points more in income tax in the name of fairness. But it’s also not preposterous to say that when 1 percent of the people provide more than a third of income tax revenue, they’re already paying their fair share — and suggesting that people who don’t want to pay even more are “unpatriotic” is bullying nonsense.

While we’re on the topic of fairness, there’s another common argument for hiking income taxes for the wealthy, or for even simply taxing wealth itself: The rich deserve it. Or, to be more generous, the super-rich don’t deserve their money, while the rest of the country does.

The New York Times’ Farhad Manjoo recently argued for “abolishing” billionaires outright. Presidential candidates Elizabeth Warren and Beto O'Rourke say we should make the rich less rich because income inequality is bad. Candidate Bernie Sanders and Rep. Alexandria Ocasio-Cortez (and many others) think that everything from Medicare for All to the Green New Deal can be financed largely — or entirely — by pillaging the bank accounts of the rich.

This is populist insanity masquerading as public finance. According the Manhattan Institute’s Brian Riedl, doubling the top tax brackets (from 35 and 37 percent to 70 and 74 percent) “would close just one-fifth of the long-term Social Security and Medicare shortfall. Even seizing all annual income earned over $500,000 would not come close.”

You could literally confiscate 100 percent of the wealth of the entire one percent and not come close to paying for Sanders’ version of Medicare for All (price tag: $32 trillion).

This points to my real problem with all of this “tax the rich” talk. It works from the assumption that the problems of ordinary Americans are the result of a tiny group of people selfishly refusing to do their part. Not only does this assume that the wealth of people who have paid considerable taxes still belongs to everyone, it’s also simple scapegoating. By my lights, it would be no less outrageous if the math added up. But it doesn’t, which makes it even more irresponsible.

© 2019 TRIBUNE CONTENT AGENCY, LLC

Who We Are

The Patriot Post is a highly acclaimed weekday digest of news analysis, policy and opinion written from the heartland — as opposed to the MSM’s ubiquitous Beltway echo chambers — for grassroots leaders nationwide. More

What We Offer

On the Web

We provide solid conservative perspective on the most important issues, including analysis, opinion columns, headline summaries, memes, cartoons and much more.

Via Email

Choose our full-length Digest or our quick-reading Snapshot for a summary of important news. We also offer Cartoons & Memes on Monday and Alexander’s column on Wednesday.

Our Mission

The Patriot Post is steadfast in our mission to extend the endowment of Liberty to the next generation by advocating for individual rights and responsibilities, supporting the restoration of constitutional limits on government and the judiciary, and promoting free enterprise, national defense and traditional American values. We are a rock-solid conservative touchstone for the expanding ranks of grassroots Americans Patriots from all walks of life. Our mission and operation budgets are not financed by any political or special interest groups, and to protect our editorial integrity, we accept no advertising. We are sustained solely by you. Please support The Patriot Fund today!


The Patriot Post and Patriot Foundation Trust, in keeping with our Military Mission of Service to our uniformed service members and veterans, are proud to support and promote the National Medal of Honor Heritage Center, the Congressional Medal of Honor Society, both the Honoring the Sacrifice and Warrior Freedom Service Dogs aiding wounded veterans, the National Veterans Entrepreneurship Program, the Folds of Honor outreach, and Officer Christian Fellowship, the Air University Foundation, and Naval War College Foundation, and the Naval Aviation Museum Foundation. "Greater love has no one than this, to lay down one's life for his friends." (John 15:13)

★ PUBLIUS ★

“Our cause is noble; it is the cause of mankind!” —George Washington

Please join us in prayer for our nation — that righteous leaders would rise and prevail and we would be united as Americans. Pray also for the protection of our Military Patriots, Veterans, First Responders, and their families. Please lift up your Patriot team and our mission to support and defend our Republic's Founding Principle of Liberty, that the fires of freedom would be ignited in the hearts and minds of our countrymen.

The Patriot Post is protected speech, as enumerated in the First Amendment and enforced by the Second Amendment of the Constitution of the United States of America, in accordance with the endowed and unalienable Rights of All Mankind.

Copyright © 2024 The Patriot Post. All Rights Reserved.

The Patriot Post does not support Internet Explorer. We recommend installing the latest version of Microsoft Edge, Mozilla Firefox, or Google Chrome.