I keep hearing that millionaires and billionaires should pay their fair share. So I thought I would throw the question out in hopes of a rational explanation of what this means.
Besides the lack of any substantive thought, this argument has several flaws.
Flaw #1 - The incorrect use of the term millionaires and billionaires by politicians is used to mislead the masses and invoke class warfare.
Flaw #2 - The millionaires and billionaires are generally the people who employ millions of workers and provide goods and services.
Flaw #3 - Even if the government sticks it to the millionaires and billionaires as many people hope for...this will not help anyone. Not one dime with go the the people on the sidelines waiting for the handout. The money will go the corrupt politicians and ultimately cause the companies that the millionaires and billionaires own to either raise prices...or let workers go.
Flaw #4 - Who defines another persons "fair share"?
In the US, the obvious (and correct) definition of a millionaire is an individual whose net worth or wealth is equal to or exceeds one million dollars. A billionaire is 1000X that number. For tax purposes and politicians this actually means individuals who earn $250,000+ in a given year.
The bigger side to the millionaires and billionaires class warfare argument is the question of what is the "fair share" and who defines it? The correct definition of "fair" is free from bias, dishonesty, or injustice. Share is defined as one of the equal fractional parts, or to divide and distribute in shares; apportion. These definitions alone point to the fact that the "get the millionaires and billionaires" argument is flawed. Fair share actually means that EVERYONE should contribute equally...not just one group over another.
Should the rich define everyone's fair share? Should the poor make this decision? Should the politicians decide? I would be willing to bet that not one person who reads this and honestly comments can make this argument. Here is the challenge...
With regards to taxation, tell me what you think is another persons "fair share" is and what group of people should define it. Also, explain how you think it is going to help you personally. Pretend you are defining your fair share...you parents, your siblings. What is the number?
Rules. You cannot use the tired millionaires and billionaires line in the comment.
Here is an example: I think I should pay 15% of my annual gross income to the federal government without any possible deductions. And since the constitution states that all men are created equal, I think my unemployed sister and Bill Gates should pay the same rate. And if I ever get to meet Bill Gates, I will say "thank you" for contributing more than I do!