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Sunday, January 06, 2013

The Solution to Federal Spending - Tax the Rich!


Federal Spending has increased by $1 Trillion a year since Obama took office.

These are big, absurd numbers that bear no relation to most people's daily lives. So let's put it into perspective.

$1 Trillion, is a million millions.

There are 300 million people in the US. Only about half of those, 155 million, are employed.

One trillion divided by 155 million (i.e., each working person's share of the increased government spending) is $6,451. Per year, per working person.

So if you are a typical family with two wage earners, your family's share of just the *increase* in Federal spending since Obama took office is $12,903. Per year.

But the total Federal budget is actually $3.7 Trillion. Your family's share of the total Federal Budget is $47,741. Per year.

Now let's take a look at soaking the rich. (You know you want to.)

In 2011, about 6 million Americans made more than $200,000 in income that year. (1)

Let's make them pay for everything!

How much would they have to pay just to make up the $1 Trillion per year increase we've had under Obama? $166,000 per year.

How much would they have to pay to pay for all Federal Spending? $616,000.

So there you have it - problem solved! All we have to do to get free big government for all of America's "poor" is to make people earning $200,000 a year pay $616,000 a year in income taxes!
While I say this jokingly, the whole left-wing sales pitch is to trick people into thinking they can get whatever they want paid for by "the rich".The fact is, the poor and middle class bear the burden of the enormous government we have, because "the rich" don't remotely have the money to pay for a government that will take 45% of everything Americans produce this year.You go, "But I see my paycheck! My income taxes aren't that high!"

No indeed, they're not. Because the rest of the taxes that you pay are baked into prices. The price of bread. The price of gasoline. The price of medical care. Taxes on business and on the investments of "the rich" are simply passed through to the consumer, just like other business expenses like rent and electricity.OK, forget income taxes. Raising taxes on capital, surely THAT soaks the rich? Nope. Taxes on capital simply raise the cost of capital to business. Which is passed on to consumers just like every other expense.OK, forget business at all! Just directly tax the wealth of the rich! America's richest man, Warren Buffet, is worth about $50 Billion. That will pay for approximately five days of Federal government. And after you've eaten Warren Buffet, I guess you're pretty much screwed.

The Big Lie that you leftwingers have been tricked into believing, is that "the rich" can pay for all the freebies you want government to shower on you.The reality is that this simply is not possible. So what happens is that YOU pay for all this government - which impoverishes you - and then government gives some of it back to you, making government seem like God to you - to ensure that you continue to vote for the Big Government politicians.They are bribing you with your own money, and tricking you into thinking the money is coming from others, when in fact it's coming from you. And since a huge part of this spending is with borrowed money, you and your children are actually actively being sold into economic slavery by the leftwing politicians you love.Why do you think middle class real income is down even though productivity continues to improve every year? Where is all that new wealth going?To the government you love so much.

1. http://www.csmonitor.com/USA/DC-Decoder/2012/0710/Obama-tax-proposal-Who-makes-more-than-250k-and-are-they-rich-video

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