OK numb nuts.(you know who you are.) The federal government is spending about 3.6 trillion dollars this year. Just so you know, that is $3,600,000,000,000. They’re taking in around 2.2 trillion dollars. That’s $2,200,000,000,000 leaving about 1.4 trillion dollars in deficits. The extra taxes they intend collect on those making $250,000 or more a year amounts to about 40 billion dollars the first year.
I received this exercise in a forwarded email once but it was a while ago and the numbers were smaller. Sorry I can’t attribute it properly. The purpose of this exercise is to show how stupid raising taxes is and that our problems are rooted in spending, not revenue.
Let’s change this into a family problem. We will just take eight zeros off the numbers. You make $22,000 a year but you are spending $36,000 a year. This means that you are either dipping into savings or borrowing $14,000 a year. You decide that you will work overtime (raise taxes) enough to make an extra $400 a year. (Remember, take off eight zeros.)
OK, Now if there is no more more deficit spending after the first year, (FAT CHANCE!) at $400 a year it would take 35 years to pay off the first year’s debt. So what good does it do to raise taxes? None! This is just a ploy to cause class warfare and make it look like the Republicans only want to help the rich. One of these days I’ll explain to you how lowering taxes actually increases revenue.
The largest unintended consequence is that people will do what they can to avoid taxes; either hide income or move away. Therefore next year you will have less “rich” tax payers and you know full well that the government won’t cut spending. Sooo - - if you don’t change your spending habits you will just go deeper into debt AND raise the taxes on lower and lower income people.
As much as I would love to be able to place blame solely on, say oh, the DemocRATS, I can’t. The R.I.N.Os are no better. They certainly aren’t anything near conservative. The entire Congress needs to take the Hillsdale Constitution courses because they have been ignoring the document for several years.(at least) For one thing our entitlement programs are out of control. They need reformation. Next, public service unions MUST GO! We can never recover when we pay public sector retirees more than most private sector employees make before the retire.
Maybe on another journey into rant city we can tour the government departments that need to be shrunken or done away with altogether.
Two lawyers walking down the street when they see a beautiful woman. Lawyer says to number two, “I’d sure like to screw her!” Lawyer number two asks, “Yeah, outta what?”