Paying our fair share
It is with interest that I read letters that express outright hostility toward Donald Trump that go without mention of the dishonesty and corruption of Hillary Clinton. No one has yet been able to explain to me how someone commits their life to public service, and in 2015 makes over $10 million. The record clearly proves all that we need to know about the flaws of Clinton. Where is the balance in thinking?
What I find disturbing is this message about paying one’s fair share. According to their tax returns, the Clintons amassed $10 million in reportable income for 2015. They paid taxes at a rate of 34 percent. That is 5.6 percent less than what I paid after earning substantially less. What the pay-your-fair-share folks don’t understand is this: My small business, with under 100 employees, generated $5.3 million in payroll in 2015. At a modest total average rate of 18 percent, which is probably low, we contributed $956,575 to the federal government.
In addition, we paid 39.6 percent of our profit to the federal government. Altogether, we contributed over $1.4 million to “the cause.” Forty cents on the dollar is more than a fair share, and as a business committed to move on into the future, I can tell you that any tax relief we would receive would be applied toward human resources, new equipment or other needs. Adding to our burden this year is the excessive cost of administering Obamacare, even though we provide a health insurance program for our employees. Any additional taxes or burdens at this point will be a disincentive to us.
There are ways to incentivize hiring and raising wages. They just don’t fit in an environment where the government spends more than it takes in. They don’t fit in an environment where people who work hard and have success are somehow demons. They don’t fit in an environment where the foundational policy of the government is dependence on government.
Bill Wilson
Washington
Wilson is the president of Specified Systems, Inc.