Bernie Sanders has built his entire platform for presidency on the idea that the wealthy should pay their “fair share” of the tax bill for the country.
In his eyes, this would help enable the government to provide many more services that he’s promised if he is elected for president such as his Medicare for All plan, for example.
His plan is to have a 4% tax on income exempting the first $29,000. This will majorly affect the lower and middle class and average American.
Sanders said, “What we will do — what we will do is have a four percent tax on income exempting the first $29,000. All right, good. You — you’re better at arithmetic than I am. Because what that means is if you are that average family in the middle who makes $60,000 a year, that means we’re going to tax you on $31,000 at four percent.”
This causes problems and raises some questions. Is this $29,000 for a married couple or single individual? Right now the tax situation favors single people or those who live with a partner and have children though remain unmarried. The system really works for those kinds of people.
It’s really a penalty for doing the right thing. The government is rewarding people who remain out of wedlock and play the system because doing the right thing would bring in less money during tax season.
Even with that 4%, it’s still going to be an increase for just about everyone in those classes. Bernie Sanders said it would be an increase and it probably will be. Just have a look at your own tax rate to see if it is lower than 4%. It probably is.