Saturday, January 28, 2012

Will Taxing the Rich Pay for Washington Spending????

Taxing the rich.....sounds good in theory
Class warfare is a tactic often used by the Democratic party, and is clearly going to be used by president Obama in his bid for re-election. So why do they employ this tactic so often? Because it works.
We have increasingly become a nation of people who believe fairness is the new American Dream. We no longer keep score at our kids games because we don't want anyone to lose. We want everyone to feel good, to be treated the same, to be paid the same.  You get the picture, or should I go on... And while this sounds good in theory, the problem is NOT EVERYONE IS THE SAME OR PUTS IN THE SAME EFFORT. Some people are smarter, work harder, and goodness forbid may be more fortunate or even be luckier.
Those evil CEO's we love to hate did not party hard in college and get average grades.  They missed their kid's games, friend's birthdays, and didn't travel every weekend to watch their college football team play. Hell, they probably went to a college that didn't even have a football team. (gasp)
The truth is they sacrificed. They worked harder, smarter and dedicated themselves to their career of choice. And after doing so, they had the audacity to succeed and make money. How fricking unfair!!!!
But let's say for a moment I agree that we should tax the rich more to help pay for our government's over the top spending habits. Would this help?  I had no idea, so I asked my Magic 8 Ball-Google.
The reader's digest version is below:
  • 2012 annual congressional budget:      $3.7 Trillion
  • Total US household  income:
  • (that's everyone rich and poor):          $8 Trillion
  • Obama's definition of the evil rich:     Households earning $250k+ per year
  • % of households making 250k+:         25% or $2 trillion
Let's do the math, shall we. 
$3.7 Trillion - $2 Trillion = $1.7 Trillion

So if we go with the brilliant Democrat/Obama strategy of 'tax the rich' and everything is gonna be alright, we could take 100% of the income earned by the evil rich making 250k+ and would still find ourselves short by $1.7 trillion.  And this is for one year only!!!  Imagine this happening year after year after year.....Oh wait, it already has, as our national deficit as of today is:
$15,246,920,582,814.

Is it beginning to set in, are you beginning to get what this means?????

Those of you who are so in favor of fairness, of taking from those who have more to pay for our government's out of control spending may want to rethink your position. Because once they finish confiscating more from those making over 250k in the name of fairness, they will come for you next.

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