Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

The Coming Blue State Collapse
Edgelings/Pajamas Media ^ | February 26, 2009 | Rich Karlgaard

Posted on 02/26/2009 4:26:05 PM PST by giant sable

click here to read article


Navigation: use the links below to view more comments.
first previous 1-2021-4041-55 next last
To: giant sable
I was able to find the latest statistics from the IRS summarized by The Tax Foundation and listed on their website at: http://www.taxfoundation.org/news/show/250.html

The interesting item is the accumulated income of the top 5% of AGI (Adjusted Gross Income). It is $2,977,714,000,000 or 2.978 trillion dollars. The top ZERO released his budget for 2009 of 3.855 trillion dollars and he plans to tax the rich to help pay that.

Now if he were to tax the top 5% of AGI at 100% he would still be short around 877 billion dollars. And what is even more interesting the top 5% earned from $153,542 up. That is a long way from the $250,000 he keeps saying will be the breakpoint.

In order to get his almost 4 trillion dollars he would have to tax the top 10%, earning at least $108,904, at 100%.

In order to get his almost 4 trillion dollars he would have to tax the ENTIRE TAX PAYING POPULATION, all 135,719,160 of them, with a tax rate of 50%.

The great ZERO is a fricking liar of the biggest magnitude.

21 posted on 02/26/2009 5:08:17 PM PST by ProudFossil
[ Post Reply | Private Reply | To 1 | View Replies]

To: max americana
I’ll one up ya. It’s hard being a conservative in Hollywood. We had to develop a ‘code” so the “tolerant’ ones wouldnt blacklist us.

I still win. Try being a Christian and a conservative in a hard core blue state as a university professor.

22 posted on 02/26/2009 5:11:47 PM PST by FateAmenableToChange
[ Post Reply | Private Reply | To 13 | View Replies]

To: giant sable

Well, it could be a good and instructive thing if some of the big blue states go bust. Why? Because they, unlike the Fed govt, cannot just print money. They will be forced to admit they need to CUT SPENDING!!! And lower taxes to improve their economies!


23 posted on 02/26/2009 5:14:41 PM PST by mtrott
[ Post Reply | Private Reply | To 1 | View Replies]

To: psjones

We need to think revolution. The founders included the second for such a reason. zer0 is going to tax us to the dirt. We can’t just lay down for it.


24 posted on 02/26/2009 5:16:26 PM PST by reefdiver (How do you keep the Conservative a Conservative, in Washington DC ?)
[ Post Reply | Private Reply | To 3 | View Replies]

To: giant sable

Yes, Connecticut with the highest income of any state will be the hardest hit by BO’s vendetta against the Evil Rich, with New York a close second. I’m sure they won’t mind subsidizing the fine conservative red states in the South where incomes for even professionals are lower because of the lack of unions.


25 posted on 02/26/2009 5:18:52 PM PST by kittymyrib
[ Post Reply | Private Reply | To 1 | View Replies]

To: FateAmenableToChange

How many reprimands so far?


26 posted on 02/26/2009 5:24:41 PM PST by max americana
[ Post Reply | Private Reply | To 22 | View Replies]

To: dajeeps
seriously, the $250k/yr number has nothing to do with rich.

if you lived in CA and made $250k/yr, this is how it would break down today:

salary $250k
fed tax 35%
state tax 10%
medicare + matching 3%
ss + matching 12% on first $100k

60% on first $100k .. $60k tax due and 48% on the remaining $150k... or $72k.

total tax ~$132k
net (take home) ~$118k

assuming you have a mortgage, a mortgage of $500k isn't out of the question in CA. assuming 6% over 30 years, you're paying $3,000/month.

mortgage $3k
property taxes $1k
home insurance $1k
electric $250
car payment $400
car insurance $100
cable tv + internet $100
water + sewage $50
phone $100
food $500
--
total household monthly expenses $6.5k

total expenses without leaving the house: ~$78k / year

this would leave about $40k / year, or ~$3300/month for spending.

this would not get your rich

raising the max fed rate from 35% to 40% would raise the total taxes due from $132k to $144.5k/yr. this would leave $27.5k / year, or $2300/month for spending

this would take $1,000 every month away from consumer spending and adding it directly to the wallets of washington fat cats.

you never see those asshats eating oodles of noodles and driving clunkers.

27 posted on 02/26/2009 5:33:04 PM PST by sten
[ Post Reply | Private Reply | To 10 | View Replies]

To: Danae
One can only hope they bear the brunt of their short sided stupidity.

MUCH more concerned that they can learn from it.

Proverbs 26:11 -- As a dog returneth to his vomit, so a fool returneth to his folly.

28 posted on 02/26/2009 5:35:40 PM PST by Clint Williams (Read Roto-Reuters -- we're the spinmeisters | Impeach Obama!)
[ Post Reply | Private Reply | To 2 | View Replies]

To: penelopesire

Dont mess with Texas


29 posted on 02/26/2009 5:35:47 PM PST by Former MSM Viewer ("We will hunt the terrorists in every dark corner of the earth. We will be relentless." W 2001)
[ Post Reply | Private Reply | To 7 | View Replies]

To: PERKY2004
Drat. It's already hard enough being a conservative in California.

Why I left in 1983.

30 posted on 02/26/2009 5:36:52 PM PST by sionnsar (Iran Azadi | 5yst3m 0wn3d - it's N0t Y0ur5 (SONY) | REAL Stimulus: Apply paddles, shout "CLEAR!")
[ Post Reply | Private Reply | To 5 | View Replies]

To: giant sable

Better the main burden fall on Blue States than on Red States. I left Michigan for Texas for a reason.


31 posted on 02/26/2009 5:38:52 PM PST by No Truce With Kings (The opinions expressed are mine! Mine! MINE! All Mine!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Viking2002

Way back in time the state of Florida created a market for orange juice by a well-run promotion campaign. What we need to do now is create a major market for alligator meat, we can raise alligators in large quantities by feeding them in enclosed pens. The meat is delicious and will sell well if we can keep the price down. The major expense is the feed, now here comes the kicker, what do we feed them? All them damned left wing fools that keep movin’ south, that’s what! There is an endless supply.


32 posted on 02/26/2009 5:40:28 PM PST by RipSawyer (I have scant HOPE for the PRESENT absent a major CHANGE.)
[ Post Reply | Private Reply | To 8 | View Replies]

To: RipSawyer
Brother, I have a gas grill, a wood smoker, and a convection grill, and all three of them love to give wild game a makeover. I'll be first in line in the gator market.


33 posted on 02/26/2009 5:45:35 PM PST by Viking2002 (The Occupation has begun. God help America.)
[ Post Reply | Private Reply | To 32 | View Replies]

To: Former MSM Viewer

You got that right.This is where the first revolts will start if all hell breaks lose and you wouldn’t want to be a liberal in Texas looking for a job or living on the dole when it starts...just sayin....LOL!


34 posted on 02/26/2009 5:47:52 PM PST by penelopesire ("The only CHANGE you will get with the Democrats is the CHANGE left in your pocket")
[ Post Reply | Private Reply | To 29 | View Replies]

To: No Truce With Kings

“Better the main burden fall on Blue States than on Red States”

You got to start thinking like Obama and the marxists think. See...the plan is to ruin the blue states..then ship the blue state liberal yuppies to prospering red states looking for work. Then the dems have a take over of red states too and all that is left back in the failed socialist blue states are dependent democrat looters living off of our taxdollars.

See how that works?

Decades of marxist control of America. They will also make it hard now for people to afford to send their children to private K-12 schools(because the gov is taxing them to death)...so they are all forced into liberal/marxist run school systems to be indoctrinated. They will close the homeschooling programs as well.

It is all coming to pass fasted than anyone realized.


35 posted on 02/26/2009 5:56:09 PM PST by penelopesire ("The only CHANGE you will get with the Democrats is the CHANGE left in your pocket")
[ Post Reply | Private Reply | To 31 | View Replies]

To: penelopesire
“You got to start thinking like Obama and the marxists think. See...the plan is to ruin the blue states..then ship the blue state liberal yuppies to prospering red states looking for work. Then the dems have a take over of red states too and all that is left back in the failed socialist blue states are dependent democrat looters living off of our taxdollars.

See how that works?

Decades of marxist control of America. They will also make it hard now for people to afford to send their children to private K-12 schools(because the gov is taxing them to death)...so they are all forced into liberal/marxist run school systems to be indoctrinated. They will close the homeschooling programs as well.

It is all coming to pass fasted than anyone realized.”

There's a $5.00 fine for whining.

It ain't gonna happen. I believe in the basic common sense of the American people.

If you really believe what you are saying — rather than just doing some venting — do yourself and the conservative movement a favor and kill yourself now. Defeatism has lost more wars than any other single factor. What Obama is giving conservatives and Republicans is the world's biggest Christmas present, all wrapped up in a big red bow. *IF* conservatives have the gumption to take advantage of the opportunity.

That's gonna take hard work — not whining. Liberal whine. Conservatives work. If you're going to just whine either become a liberal or kill yourself. Roll up your sleeves for the next two years because we can have the type of turnover we had in 1992 come 2010.

To quote Patton “We're going to hold ‘em by the nose and kick ‘em in the rear.”

Or maybe Danton is a better source of advice “de l’audace, encore de l’audace, et toujours de l’audace.”

Or maybe the old “Lead, follow, or get out of the way.”

Regardless, I don't need to hear more whining.

36 posted on 02/26/2009 6:18:34 PM PST by No Truce With Kings (The opinions expressed are mine! Mine! MINE! All Mine!)
[ Post Reply | Private Reply | To 35 | View Replies]

To: sten

Be sure to adjust for inflation (the stealth tax). For 2008, it would have been an extra 3.5-4% haircut.


37 posted on 02/26/2009 6:29:59 PM PST by dajeeps
[ Post Reply | Private Reply | To 27 | View Replies]

To: tanknetter
So that would make it classic blunder/mistake #3 ...after not getting into a land war in Asia and not going in against a Sicilian when death is on the line?

That would be entirely, completely, and in all other ways, INCONCEIVABLE.

38 posted on 02/26/2009 6:46:07 PM PST by Migraine (Diversity is great... ...until it happens to YOU.)
[ Post Reply | Private Reply | To 14 | View Replies]

To: giant sable

The Dems may end up screwing themselves.


39 posted on 02/26/2009 7:29:56 PM PST by Free Vulcan (No prisoners. No mercy. 2010 awaits.....)
[ Post Reply | Private Reply | To 1 | View Replies]

To: MIchaelTArchangel

I’m stealing that!


40 posted on 02/26/2009 7:30:32 PM PST by Free Vulcan (No prisoners. No mercy. 2010 awaits.....)
[ Post Reply | Private Reply | To 4 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-55 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson