Thursday, April 14, 2011
You Call That a Plan?
It is hard to imagine that Obama, or any other sane person for that matter, truly believes that raising the tax rates on incomes above $250,000 will fix our problem. I think he just wants to appease those Democrats on the far left, while pretending to be the leader everyone expected him to be. Especially wonderful was Obama's decision not to implement any real cuts until 2013 - right after his (hopefully unsuccessful) reelection.
According to IRS data, the entire taxable incomes of everyone making $100,000 or above in 2008 amounted to a bit less than $1.58 trillion. Even if every one of these people (of which I am one, and am far from wealthy) were taxed at 100%, it would not even cover Obama's deficit for this year alone.
Don't let this charlatan fool you. He lives in some weird liberal Twilight Zone, where everyone believes that the money you earn actually belongs to the government, and anyone who wants to lie on the sofa, only getting up to cash government checks, has a right to do so.
Finally, after nearly 3,000 years (2,739 you would have made a pile equalling $1 trillion. That is a really, really big pile of dollars. And currently our national debt is over 14 piles of this size...and growing by the second.