Exempting wealthy oligarchs from paying their fair share of taxes will create jobs, just not in the U.S. The money taken from your pocket and put into theirs will be shoveled into unregulated low-wage countries to build modern factories.
Warren Buffet said his secretary pays a higher percentage of her salary in taxes than the 17 percent he pays. The truth is even sadder.
The average worker pays over 25 percent of his earnings in taxes before the federal income tax begins. Property tax, sales tax, utility tax, fuel tax, Social Security and dozens of other taxes or fees have been laid on the worker by the oligarchs who run the country.
In California the sales tax is 9.75 percent. In Ireland it is 21 percent. The oligarchs want all the government taxes to be consumer taxes. Only 40 percent of the cars and 6 percent of the clothes sold in the U.S. are made in the U.S. A car is no longer a luxury.
A $20,000 car will have several thousand dollars in sales tax. We need to reduce sales taxes and increase tariffs on imported products.
Forcing countries like China to increase their internal wage structure to finance their economic growth would be doing them a service. Poor Chinese seeing rich Chinese oligarchs zipping by in limousines will make a Marxian class warfare revolution inevitable.
Japan once a low wage country overcame great obstacles to be competitive in a modern industrial world by ingenuity and quality products.