Political Quotes

“A person who works 50 hours a week, say a retail clerk, and brings home $40,000, $50,000 a year in a good union job. That is possible. Let us not even go to the issue of someone with a very large income and someone with a modest income. Let us say two people earned $40,000 a year. One earns $40,000 a year by investing money they inherited, the other earns $40,000 a year by working 40 hours a week in a wage-earning job. The person who earns $40,000 a year is paying taxes at about the rate of 28 percent and the person who invests for a living is paying 18 percent. Now, I have a hard time understanding why that is fair; why the person who does not work for wages pays a lower rate. And, of course, if the person who works for wages is self-employed, not only do they get socked with a 28 percent rate, they also get socked with paying the FICA tax on both sides, so their tax rate suddenly jumps up around 40 to 50 percent. But their vision for the future is that 1 percent or so who can just live off investments should pay no taxes to the Federal Government. Now, my question would be how then are we going to maintain the government and who is going to pay?”