Not nearly enoughWhat does government do when your money
runs out?
Here
is an interesting set of facts. If the government increased the top
tax
rate
from the current rate of 35% to 100% (yes, that's right 100%), it would only
collect an extra $400 billion this year. In other words, confiscating all the
income that is currently taxed at 35% would not raise enough revenue to cover
any of the annual deficits projected in the next 10 years. There is no way that
tax hikes on the rich alone can pay for proposed spending in the current
budget.
— Brian S. Wesbury and Robert Stein, Tea Party Economics Hat tip Brain Terminal. Posted: Wed - April 22, 2009 at 01:46 PM
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Pagan Vigil
Pagan philosopher, libertarian, and part-time trouble maker, NeoWayland watches for threats to individual freedom or personal responsiblity. There's more to life than just black and white, using only extremes just increases the problems. My Thinking Blogger Nominees
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