You could tax the income of those making over $250,000 at 100% and would not have enough money to cover the current deficit. The idea that we can keep piling spending program on top of spending program and have “the rich” pay for it all is a fantasy. And the media is committing a crime against the nation by going along with the Dems in suggesting we can. We are at the end of the line for the Welfare State. Its broken. Its a monster that cannot be tamed and is eating everything in sight. Neither Democrat nor Republican seems to want to try to stop it. Even the ones who may be willing to don’t have the means or ability to stop it. Its a machine, ingrained in the bureacracy. Spend spend spend and then spend more for the sake of spending.
These analyses fail to consider the positive budgetary effect of the Death Panels. Every year sliced off the lifespan is a HUGE boost for SocSec and Medicare financials.
The Progressive dream (and that’s Progressives of both parties) is to see income taxed at near 100%, with basic subsidies provided to give to the people whatever they deem to be a necessity. Note that they never talk about confiscating wealth because the Progressives plan to keep their wealth while the workers live on the dole and work to pay their tax burden.
They will fly on private jets to China, Dubai, and Singapore to enjoy luxuries and we will wonder why our weekly bread ration got cut again. But, they’ll be able to say, “We’re all in this together, comrade” because their “income” is being taxed at the same rate as ours.