In her eagerness to promote her extreme far-left tax proposal, Democratic Senator Elizabeth Warren shared some misleading numbers.
Then Republican Congressman Dan Crenshaw taught her a lesson on social media.
The 99% in America paid 7.2% of their total wealth in taxes last year, while the top 0.1% paid only 3.2%. The wealthy and well-connected need to start paying their fair share. #WealthTax
— Elizabeth Warren (@ewarren) May 17, 2021
Crenshaw To Warren: ‘Very Weak Argument, Senator’
On Monday, Warren shared Democrats’ typical argument that taxes should be raised on the wealthy.
“The 99% in America paid 7.2% of their total wealth in taxes last year, while the top 0.1% paid only 3.2%.” Warren tweeted.
She added, “The wealthy and well-connected need to start paying their fair share.”
Warren’s statistic was correct. It also left A LOT out, context-wise.
That’s when Rep. Crenshaw came in.
“Very weak argument, Senator. Facts: The top 1% pay about 40% of total federal revenue,” Crenshaw tweeted.
“The bottom 50% of earners pay about 3% of total federal revenue. Use all the data Senator. It will make you better informed,” the Texas Republican added.
Very weak argument, Senator.
Facts: The top 1% pay about 40% of total federal revenue. The bottom 50% of earners pay about 3% of total federal revenue.
Use all the data Senator. It will make you better informed. https://t.co/gt84u0D6xm
— Dan Crenshaw (@DanCrenshawTX) May 18, 2021
Crenshaw Exposed Warren’s Deceptive Take On The U.S.’s Already Very Progressive Tax System
Crenshaw demonstrated how Democrats like Warren often use trickery in calculating the rates according to the wealth of each group instead of the income of each group.
To note, income taxes are of course collected annually according to income – not based on how much wealth one has accumulated during their entire lifetime.
The Heritage Foundation created a chart that shows how progressive the U.S. tax system already is.
— Heritage DataViz (@HeritageDataViz) November 14, 2018
This Is A Well-worn Demcrat Tactic When It Comes To Who Pays Taxes
Internal Revenue Service figures show that the top 1 percent garnered 21 percent of all income earned.
But that same 1 percent paid 40 percent of all income taxes.
If we’re being honest, that context should matter. Even if it doesn’t to Elizabeth Warren.
In the same vein, the top 5 percent of Americans categorized by wealth, garnered 37 percent of all income earned.
That 5 percent also paid 60 percent of all of the income taxes.
It is understandable why Sen. Warren would want to omit this important information when arguing for her tax plan, but it doesn’t make it any less devious.
And that’s without even getting into how important that wealth is to the economy.
That wealth is used for investments. It’s used for purchases – the kind that require companies to put people to work and pay their wages and salaries.
And we all know what kind of horrendous pet projects it would be wasted on if it were sent to the government.
Now is the time to support and share the sources you trust.
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