Hey Bernsie, I see that you released your 2014 federal tax return. It certainly reveals that you’re no “millionaire or billionaire”. And it is true that your $205,000 income is much less than what Hillary Clinton earned for just ONE speech out of the many that she made on her way to amassing a net worth of tens of millions of dollars. Between her and her husband, President Bill Clinton, their combined net worth is well over one hundred million dollars. They’re definitely living large as part of the 1%.
That being said, $205,000 is a lot of money, Bernie. You’re in the 5%. That’s a pretty small club. I would be dancing in the street if I made that kind of cabbage, I can you tell you that!
The problem is that you’ve been touring around the country waxing on about how high-income folks like you don’t pay their “fair share” of taxes. However, you paid a paltry 13.5% in federal taxes. Sorry, pal, but that is called hypocrisy. It is completely incongruent with your ideology.
I, for one, do not begrudge your paying that tax rate. I say use any legal means possible to lower your tax burden to as low as you can within the bounds of the law. What I do know is that in order to get to that effective tax rate, you had to hire a tax attorney or accountant and that you took over $60, 208 in deductions, a privilege that many people within your income bracket would not be able to take the same advantage of.
So, I’m wondering…..why not file your own tax return? Why take all of those extraordinary deductions? Why not just take the standard deduction or just file a simple 1040EZ? Why did you go out of your way not to fork over the 22% tax rate that the federal government suggested that you pay if not for your deductions?
Obviously, you believe that a 13.5% tax rate on a $205,000 income is “fair,” correct? Then why not call for a tax cut for other folks making that same kind of income who do not have the ability to take the kind of deductions that you were able to?
If 13.5% tax on a $205,000 income is “fair”, then what about a schlub like me making, say, $60,000? Would a 5% rate be “fair”? If not, why not?
I’m confused, Berns, It seems damn well clear to me that you’re all for lowering taxes. Why then all this talk about raising them?