Dispelling the GOP Talking Point regarding Raising Taxes on the Rich

Hedi Harris, a Las Vegas Talk Show Host used her time on the Ed Show on MSNBC to proclaim that this taxing the rich campaign was unfair because people who pay no income taxes could still get the earned income tax credit.  It was then that it occurred to me, the real meaning of this talking point for all those of the same mind as Ms. Harris.  After doing a little research and using my own personal experience, I decided that it was time to try and dispel this rumor.

The earned income tax credit was designed for those that don’t earn a high income and mostly for the low to moderate income bracket.  What that really means is earned income credit is just what it says.  If you do not have any earned income for that year and meet the minim gross income amount, you will not be able to get this credit.  In other words, no earned income, no credit.  Now we all know that if you can take this credit, you must have earned some money during the year from which come payroll/income taxes, Medicare, social security, state and federal unemployment taxes.  This alone disproves the stance of many who argue that this credit is given to those who do not pay income taxes.

I can only assume that Ms. Harris and those who think the same are talking about those who are on welfare or some other federal or state program.  If this is the case then is this not also “class warfare”?  Let’s consider a family whose primary breadwinner is making minimum wage.  Seven-twenty-five per hour from a forty hour work week grosses them two hundred and ninety dollars a week, one thousand one hundred and sixty dollars a month and thirteen thousand nine hundred and twenty dollars a year.  If they were asked to pay thirty-five percent in taxes that would leave them nine thousand and forty-eight dollars to cover all of their remaining yearly obligations not to mention the other taxes which are removed from their pay as mentioned above.  Now let’s look at the same family making two hundred and fifty thousand dollars a year.  Thirty-five percent in taxes would leave them with one hundred sixty-two thousand five hundred dollars.  Which life would they choose if they were given this choice?