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Maybe they can get it from the 47% that pay nothing now?

This of course makes the most sense.

This of course will never happen.

Here's how to TRY to explain it to one of the low-information voters, if you dare...
There are 425 Billionaires in America today. This is NOT their income, this is their total wealth. Only 10 are above $25B. 390 of them are at $1-4B. Their TOTAL wealth is under a trillion (about $770 B). IF you take EVERY penny from all 425, you don't cover this increase... and you have no more billionaires... and NEXT year, you have the same exact shortfall, with no more billionaires to plunder.

Or, you could tax the 70 million who pay no net taxes today $14,000 each.

Or you could tax every working American $7,000 more each.

Any way you put it, that Trillion is going to cause a LOT of pain to America and Americans and American business.

Which seems to be what they want.

Ronald Reagan's greatest income tax achievement was indexing the marginal tax brackets. In effect, one is paying taxes on inflated dollars at the constant dollar rate. Had this not been done, we would all be working as serfs for the federal monster now.

Also, when any of the dems begin pointing to former rates and current rates, they never seem to come around to the fact the social security taxes were much lower 30 years ago and there was no medicare before 1965 either. Also, states with income taxes were just getting their feet in the door and since then those rates have gone up along with concomitant sales and real estate taxes.

When one considers all taxes, local state and federal which we are paying, we are almost at the point of 100% taxation. But they still want more. By 2016 when we send in our tax payments, we will have to include a pint or two of blood too I fear.