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Taxing The Rich… and Other Comments

Fiscal Cliff…Tax the Rich…the anti-rich California teachers’ union cartoon – all topics this week.

I found this quote on Facebook and thought I would share it….

The richest of the rich in the United States according to the IRS are people with incomes of $10 million dollars or more per year. You know the basketball players, the Hollyweird actors and actresses, the Bill Gates and Warren Buffets of America, and, according to Obama, the super “greedy” and “selfish” CEO’s of large corporations. According to the IRS, in 2009 that list consisted of 8,274 people with incomes, not net worth, of $10 million dollars or more per year. Now if you combined their earnings and taxed them at a rate of 100 percent a year what would you get? That’s right, I said you tax every last penny they make for the year and what would you get? The answer is $240 billion dollars. That wouldn’t even cover the interest on the national debt! The government spends roughly $4 billion dollars a day. At that rate the $240 billion dollars you collected from the super-rich would be gone in 65 days!

If you went back 2000 years to the time of Jesus and spent one million dollars a day until now that would still be less than the $787 billion dollar stimulus package that Obama passed under a Democrat controlled Congress the first few weeks he was in office.

According to the IRS roughly 227,000 people earned one million dollars or more in 2009. Even if you collected all the income from all of them including the billionaires at a tax rate of 100 percent you still wouldn’t even come close to balancing the budget or paying off the $1 trillion-plus dollar deficits that Obama has given the country every year he has been in office. Now does everybody see Obamanomics is a complete and utter failure and why the U.S. economy is headed for collapse???!!!

Consider for a moment that the U.S. Government now spends $100,000 every second of every day. Consider that our government borrows $40,000 dollars every second of every day. In other words, our government has to borrow $0.41 cents of every dollar it spends. By the end of his first term, President Obama added as much debt as ALL the prior 43 presidents COMBINED!!!

That is pretty sobering.

So really, all this talk about taxing the rich is nothing more than Socialist class warfare propaganda. 

What we really ought to be talking about is drastically paring down government spending as well as the overall size of government

  • Whole agencies and cabinet posts need to be eliminated.
  • Foreign aid needs to be stopped.
  • Entitlement spending needs to be curtailed.

As for Congressman Boehner and his “fight” with fiscal Conservatives in the House, and his “punishing” them by stripping them of committee posts (Please click on the link and watch the video!), well, Boehner is a co-conspirator in this fiscal cliff mess… he makes a big fuss and acts like he is all against raising debt ceilings and fighting tax hikes… but in truth he will always fold like a cheap shirt. His actions are worthy of Kabuki theater (and you may recall that the performances on the Kabuki stage were highly dramatized and strangely bizarre.. and so it is in Washington)

In my opinion, Speaker of the House Boehner is a traitor and will substantially contribute to the further demise of this economy as he also continues to destroy the GOP. In the next Congressional election cycle he should be primaried and summarily dumped.

 

About the Author

 lives with her husband Michael in CT. They have three grown children who were homeschooled and are now successfully pursuing careers. Judy earned her Bachelor’s degree in Economics, Magna Cum Laude, with minors in Business Administration and Computer Science from the State University of New York at New Paltz.

Judy has been involved in politics for over 15 years. Judy has written many articles on various aspects of education at home and in public and private schools. She has been published in magazines and online, and has been interviewed on radio and in print.

She served as Vice President of Connecticut Homeschool Network (CHN) and was their legislative liaison. She now serves as Research Director for National Home Education Legal Defense (NHELD) providing parents across the nation with important information on legislative issues concerning parental rights and education.

Judy is the author of the blog “Consent of the Governed“

Most recently, Judy has been involved in various organizations and efforts to Restore the Republic, End/Audit the Federal Reserve, and to educate the public about the issues regarding their Liberty and Freedom, and is working to put a halt to the erosion of our rights. Judy is a fan of Ayn Rand, Seinfeld, Star Trek, Peter Schiff, Judge Andrew Napolitano, The Founders, JPFO, Appleseed, Von Mises, John Taylor Gatto, Wallace and Gromit, Dick Heller and Ruger (not in that order).

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About the Author

- Judy Aron is the author of the Libertarian Blog "Consent of the Governed" Judy has been involved in politics for over 15 years. Judy has written many articles on various aspects of education at home and in public and private schools. She has been published in magazines and online, and has been interviewed on radio and in print.

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