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Posted on 04/11/2011 4:43:04 PM PDT by Kaslin
I've often said that I wish there were some humane way to get rid of the rich. If you asked why, I'd answer that getting rid of the rich would save us from distraction by leftist hustlers promoting the politics of envy.
Not having the rich to fret over might enable us to better focus our energies on what's in the best interest of the 99.99% of the rest of us. Let's look at some facts about the rich laid out by Bill Whittle citing statistics on his RealClearPolitics video "Eat the Rich."
This year, Congress will spend $3.7 trillion dollars. That turns out to be about $10 billion per day. Can we prey upon the rich to cough up the money?
According to IRS statistics, roughly 2% of U.S. households have an income of $250,000 and above. By the way, $250,000 per year hardly qualifies one as being rich. It's not even yacht and Learjet money.
All told, households earning $250,000 and above account for 25%, or $1.97 trillion, of the nearly $8 trillion of total household income. If Congress imposed a 100% tax, taking all earnings above $250,000 per year, it would yield the princely sum of $1.4 trillion. That would keep the government running for 141 days, but there's a problem because there are 224 more days left in the year.
(Excerpt) Read more at investors.com ...
bump for later.
I love when Walter Williams subs for Rush. He’s an Economics professor, and can explain these things so well. Too bad the majority of Americans are so ignorant of these things.
The rats have dug the pit over the years, and have thrown us into it.
This class warfare is sickening to me. As if the Berlin Wall never had fallen, and by the time it did fall the Commies didn't have the rich to conduct the war against (as it was, they, their families and proteges who had become rich.)
They should tax everyone 100% so we could all get some of that free government money.
Or the ones that deliberately take too few deductions in order to get a fat refund, then boast about their refund - not realizing that they gave the IRS an interest-free loan the previous year.
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| Name | In Office | Debt Start | Growth |
|---|---|---|---|
| J. Boehner | 1991 | 3448.3 | $10.080 TRILLION |
| N. Pelosi | 1987 | 2516.9 | $11.012 TRILLION |
| O. Hatch | 1977 | 750.57 | $12.778 TRILLION |
| H. Reid | 1983 | 1598.1 | $11.930 TRILLION |
| B. Frank | 1981 | 1138.7 | $12.390 TRILLION |
| F. Wolf | 1981 | 1138.7 | $12.390 TRILLION |
| B. Boxer | 1983 | 1598.1 | $11.930 TRILLION |
Now, remind me why we think it can be fixed while the "Old Guard" is still in charge.
well...taxing the rich has done wonders for California’s economy (rolling eyes)
Reminds me of the joke about the Russian’s last wish. His final request from St Peter was for his neighbors home to burn down.
Time we stop assuming the ‘Progressives’ want America to succeed and prosper.
Problem with taxing the rich: what to tax?
Steve Jobs is, no question, rich. He’s worth $8B.
His income from Apple is $1.
He dresses in simple jeans and black turtleneck.
He is building a modest 5000 sq ft home for cash on land he owns outright.
What to tax?
sad to say, even in yer simple example there, hes already been taxed a few times...
do ya have a Williams ping list ???
Tax the rich, feed the poor, till there are no rich no more. (Ten Years After)
I just wish he could do something about his cough. It can be distracting.
No I don’t
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