{"id":35219,"date":"2022-04-11T12:27:48","date_gmt":"2022-04-11T19:27:48","guid":{"rendered":"https:\/\/cww7news.com\/?p=35219"},"modified":"2022-04-12T14:22:50","modified_gmt":"2022-04-12T21:22:50","slug":"ohio-gop-senate-candidate-mike-gibbons-middle-class-not-really-paying-fair-share-in-taxes","status":"publish","type":"post","link":"https:\/\/cww7news.com\/ohio-gop-senate-candidate-mike-gibbons-middle-class-not-really-paying-fair-share-in-taxes\/","title":{"rendered":"Ohio GOP Senate Candidate Mike Gibbons: \u2018Middle Class Not Really Paying \u2026 Fair Share\u2019 in Taxes"},"content":{"rendered":"\n<p>Mike Gibbons, the millionaire investment banker running for the United States Senate in Ohio\u2019s Republican primary, says middle class Americans are \u201cnot really paying any kind of a fair share\u201d in federal income taxes, a newly surfaced video reveals.<\/p>\n\n\n\n<p>In a podcast interview from September 2021, Gibbons suggested that federal income taxes ought to be raised on middle class Americans.<\/p>\n\n\n\n<p>\u201cThe top 20 percent of earners in the U.S. pay 82 percent of federal income tax \u2026 and, you do the math, and 45 percent to 50 percent don\u2019t pay any income tax, you can see the middle class is not really paying any kind of a fair share depending on how you want to define it,\u201d Gibbons said.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Ohio GOP Senate candidate Mike Gibbons on a Crain\u2019s Cleveland Business podcast: <br><br>\u201cThe top 20% of earners in the U.S. pay 82% of federal income tax \u2014 and, you do the math, and 45% to 50% don\u2019t pay any income tax\u2026 The middle class is not really paying any kind of a fair share.\u201d <a href=\"https:\/\/t.co\/VUYzPTlqmX\">pic.twitter.com\/VUYzPTlqmX<\/a><\/p>&mdash; Heartland Signal (@HeartlandSignal) <a href=\"https:\/\/twitter.com\/HeartlandSignal\/status\/1512568056538611714?ref_src=twsrc%5Etfw\">April 8, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>\u201cNow the problem is, you need the middle class to win an election. So the narrative is, the middle class is getting screwed and the wealthy, the elite \u2026 are cheating everybody,\u201d he continued.<\/p>\n\n\n\n<p>In actuality, economists at the&nbsp;University of California, Berkeley have found that America\u2019s wealthiest income earners now pay&nbsp;<a href=\"https:\/\/www.breitbart.com\/politics\/2019\/10\/08\/economists-americas-elite-pay-lower-tax-rate-than-all-other-americans\/\">an overall lower tax<\/a>&nbsp;rate than all other Americans.<\/p>\n\n\n\n<p>The economists found that, in 2018, the nation\u2019s top economic elite are paying lower federal, state, and local tax rates than the nation\u2019s working and middle class. Overall, these top 400 wealthy Americans paid just a 23 percent tax rate \u2014 a 47 percentage point reduction compared to what they paid, 70 percent, in 1950.<\/p>\n\n\n\n<p>Meanwhile, American middle class wealth has dropped to&nbsp;<a href=\"https:\/\/www.breitbart.com\/politics\/2021\/10\/09\/feds-americas-elite-now-hold-more-wealth-than-entire-middle-class\/\">a historic low<\/a>.<\/p>\n\n\n\n<p>Data from the Federal Reserve shows that the middle class \u2014 defined as 60 percent of U.S. households in the middle of all income brackets \u2014 has seen its share of national wealth plummet to just 26.6 percent while the top one percent of households have seen their share rise to 27 percent.<\/p>\n\n\n\n<p>That data came as the nation\u2019s richest billionaires grew their overall wealth by&nbsp;<a href=\"https:\/\/www.breitbart.com\/politics\/2022\/01\/02\/u-s-billionaires-grew-wealth-340b-2021-middle-class-shrinks\/\">more than $340 billion<\/a>&nbsp;in 2021 \u2014 much thanks to economic lockdowns that gutted working and middle class income earners, as well as small and medium-sized businesses.<\/p>\n\n\n\n<p>Best-selling author J.D. Vance, also running for the Ohio Senate seat in the GOP primary, blasted Gibbons for the remarks.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">&quot;<a href=\"https:\/\/twitter.com\/MikeGibbonsOH?ref_src=twsrc%5Etfw\">@MikeGibbonsOH<\/a> proposed raising taxes on middle-class Americans&#8230;You recognize that Amazon, Google, Facebook, Apple, they pay a lower tax rate than any middle-class Ohioan. Why are we raising taxes on middle-class Ohioans? Why aren&#39;t we cutting their taxes?&quot; &#8211; <a href=\"https:\/\/twitter.com\/JDVance1?ref_src=twsrc%5Etfw\">@JDVance1<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/OHSen?src=hash&amp;ref_src=twsrc%5Etfw\">#OHSen<\/a> <a href=\"https:\/\/t.co\/Ldexv2Sy2j\">pic.twitter.com\/Ldexv2Sy2j<\/a><\/p>&mdash; JD Vance for U.S. Senate Press (@JDVancePress) <a href=\"https:\/\/twitter.com\/JDVancePress\/status\/1512858037773602816?ref_src=twsrc%5Etfw\">April 9, 2022<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>\u201c[Gibbons] has proposed raising taxes on middle class Americans \u2026 and you sort of look at what\u2019s going on in our country and you recognize that Amazon, Facebook, Google, Apple they pay a lower tax rate than every middle class Ohioan,\u201d Vance said.<\/p>\n\n\n\n<p>\u201cWhy are we raising tax rates on any middle class Ohioan? Why aren\u2019t we cutting their taxes? Why aren\u2019t we cutting the taxes of businesses that are creating jobs in our state and actually fixing the real problems that exist with some of these multinational corporations that are in bed with the communist Chinese? It just shows a total distortion of priorities when we\u2019re talking about hurting middle class Ohioans while we let all these companies off the hook,\u201d Vance said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mike Gibbons, the millionaire investment banker running for the United States Senate in Ohio\u2019s Republican primary, says middle class Americans are \u201cnot really paying any kind of a fair share\u201d in federal income taxes, a newly surfaced video reveals. In a podcast interview from September 2021, Gibbons suggested that federal income taxes ought to be [&hellip;]<\/p>\n","protected":false},"author":754,"featured_media":35220,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[22],"tags":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/cww7news.com\/wp-content\/uploads\/2022\/04\/gibbons-e1649705255572.jpg?fit=700%2C477&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/cww7news.com\/wp-json\/wp\/v2\/posts\/35219"}],"collection":[{"href":"https:\/\/cww7news.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cww7news.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cww7news.com\/wp-json\/wp\/v2\/users\/754"}],"replies":[{"embeddable":true,"href":"https:\/\/cww7news.com\/wp-json\/wp\/v2\/comments?post=35219"}],"version-history":[{"count":1,"href":"https:\/\/cww7news.com\/wp-json\/wp\/v2\/posts\/35219\/revisions"}],"predecessor-version":[{"id":35221,"href":"https:\/\/cww7news.com\/wp-json\/wp\/v2\/posts\/35219\/revisions\/35221"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cww7news.com\/wp-json\/wp\/v2\/media\/35220"}],"wp:attachment":[{"href":"https:\/\/cww7news.com\/wp-json\/wp\/v2\/media?parent=35219"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cww7news.com\/wp-json\/wp\/v2\/categories?post=35219"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cww7news.com\/wp-json\/wp\/v2\/tags?post=35219"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}