October 3rd, 2012 at 11:12AM
antigovernmentextremist: “The total annual after-tax income of all millionaires and billionaires today is about $709 billion, according to IRS data. What this means is that even if he increased tax rates on the rich to 100%, Mr. Obama would still have to find more revenue to pay for his spending ambitions. This means he’s inescapably going to have to tee up the middle class for a tax wallop unlike anything in U.S. history.” Via WSJ

antigovernmentextremist:

“The total annual after-tax income of all millionaires and billionaires today is about $709 billion, according to IRS data.

What this means is that even if he increased tax rates on the rich to 100%, Mr. Obama would still have to find more revenue to pay for his spending ambitions. This means he’s inescapably going to have to tee up the middle class for a tax wallop unlike anything in U.S. history.”

Via WSJ

(via thinksquad)

  1. directionlessfeeling reblogged this from whatisthiswitchery and added:
    I’m so sick of this. Do you realize how federal spending works? A single tax increase will never circumvent thousands of...
  2. bobthewitch reblogged this from thearmedgentleman and added:
    The united States Federal government has grown like a cancer, and like a cancer it should have all the bits that are...
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    What? Why would anyone figure out something for themselves? Not only has critical thinking been dumbed down, but...
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  8. kelly-black reblogged this from theonecalledbiz and added:
    I love how the “news” always fails to mention this. However I am more disappointed that the voters don’t get out their...
  9. ancap-uk reblogged this from theonecalledbiz and added:
    You try and tell people this and they dont care. The only thing to do is to cut spending and cut taxes. Cutting spending...
  10. theonecalledbiz reblogged this from sugashane and added:
    ^ This.
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  13. sugashane reblogged this from disobey and added:
    “Eating the rich” will never be a viable solution the Fiscal Cliff problem. Only way to solve this issue is to cut off...
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  24. lendahandandliftme reblogged this from antigovernmentextremist and added:
    Related: Will Taxing the Rich Fix the Deficit? [YouTube] Eat the Rich [YouTube]
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80 notes Source: rothcpa.com #taxing#taxes#theft
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