Special from Insurgent Tribe
Let us return to reality for a moment – the Federal government runs about a $6 trillion deficit every year including future obligations. If you were to tax everyone making $200K a year or more at 100% you will raise about $750 billion. If you take everything those making $200K a year or more own and sell it (to whom would you sell it since you impoverished all the rich but that is a different conundrum) you raise about another $750 billion – so only $4.5 trillion short of balancing! if you want to balance via taxation then tax everyone making $22K a year or more at 100%. Of course if you tax everyone making $22K a year or more at 100% then the United States would look like Venezuela by lunchtime tomorrow. This tax rate argument is just coveting and pandering – it has nothing to do with the debt or deficit what so ever.
By the way the 1980’s did call and they do want their talking points back.
“Many people consider the things government does for them to be social progress but they regard the things government does for others as socialism.” – Earl Warren
There is a lot of truth today in what Warren said way back in 1952. People want a smaller government, they want entitlements (the overwhelming bulk of that $6 trillion annual deficit) to be slashed and reformed, they want a balanced budget, they want fiscal sanity. What they don’t want is to have to give up anything the government does for them. They imagine the issue lies exclusively with what the government is doing for other people.
There are 330 million people who don’t want to give up what they government does for them, they just want to give up what the government does for the other guy.
You can see the obvious problem in this approach.