Obamanomics - The $250,000 foor to call people rich is not low enough

About: barack obama's expensive domestic agenda will cost america's middle class - wsj.com

source: ...

... ; as a thought experiment, let's go all the way. A tax policy that confiscated 100% of the taxable income of everyone in America earning over $500,000 in 2006 would only have given Congress an extra $1.3 trillion in revenue. That's less than half the 2006 federal budget of $2.7 trillion and looks tiny compared to the more than $4 trillion Congress will spend in fiscal 2010. Even taking every taxable "dime" of everyone earning more than $75,000 in 2006 would have barely yielded enough to cover that $4 trillion.


...
The numbers are just not there!


It's time to become familiar with the distinction hyperinflation!

Tags

  1. obamanomics
  2. tax the rich

Comments


Mark de LA says
TEA PARTIES!
WorldNetDaily
'Tea parties' denounce spending trillions 
'We don't have it. It seems like there's no end'
--WND


WND FORUMS
WorldNetDaily Exclusive

Here's the online source for tea party plans 
New page lets those concerned about spending plan exchange information
--WND


WorldNetDaily
Senator echoes tea party rally cry
'People have to show that they're not going to take it anymore'
--WND


WND POLL
Patriotic brew
What do you think of the explosion of 'tea parties' around the country?
--WND


Mark de LA says
seth 2009-02-28 09:32:58 11539

Hyperpartisan name-calling.  Go to Communist China or Russia if you want one-party rule.  This country was founded by people who were outraged by taxation without representation demonstrated to King George by the Boston Tea Party!

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