Socialist presidential candidate Bernie Sanders talks a great deal about the need to redistribute wealth. He rants and raves about the need for the “haves” to front the bill for the “have-nots” and has pledged, if elected, to bring to the poor “free” education, “free” healthcare and a higher minimum wage that is sure to punish those who have dared to turn a profit even amidst the turbulent Obama years.
With all this “free” stuff being promised, Sanders has made it clear that he intends to push for dramatic increases on taxes for those who actually pay them (roughly only 50% or so).
So, naturally, Bernie is happy to “pay his fair share,” right?
After significant pressure to release his tax returns, Sanders finally relented and released his 2014 tax returns. It turns out, however, that the socialist who wants the producers of society to front the bill for all of America not only is far-short of the 80% taxation seen in other European-style socialist countries, but he’s far short of the tax rate paid by blue-collar workers.
How much is Bernie paying? According to his taxes, Sanders only paid an effective federal tax rate of 13.5 percent.
With a joint income between him and his wife of $205,271, Sanders only paid $27,653 in federal income taxes. It would have been more, however, except that Sanders took $60,208 in deductions.
In fact, though Sanders has made an entire career out of relentlessly berating and scapegoating the supposedly-greedy millionaires and billionaires who “get away” with paying few taxes, according to the Tax Foundation, the average effective federal income rate for such supposed greedy monsters was 27.4%- more than double what Sanders paid.
Further, that’s not only a bigger chunk of the pie, that’s a much bigger chunk of a much bigger pie. A CEO earning $1 million that paid 27.4% in taxes (not to mention state, property and sales taxes) paid $274,000 in federal taxes.
Still, according to Sanders and his devout socialists, these producers of society who are already footing much of the bill to offset the half of the country that do not pay taxes should be paying more.