ledeagenda.com

The Messiah seems perfectly happy lying to us. The richest 2% of Americans will not, and cannot possibly be taxed enough to produce revenue for the Pelosi, Reid and Obama cartel.

From WSJ:

But let’s not stop at a 42% top rate; as a thought experiment, let’s go all the way. A tax policy that confiscated 100% of the taxable income of everyone in America earning over $500,000 in 2006 would only have given Congress an extra $1.3 trillion in revenue. That’s less than half the 2006 federal budget of $2.7 trillion and looks tiny compared to the more than $4 trillion Congress will spend in fiscal 2010. Even taking every taxable “dime” of everyone earning more than $75,000 in 2006 would have barely yielded enough to cover that $4 trillion.

Do you see where this is going? Obama cannot possibly limit tax raises to just the “rich”. At some point he will try to sneakily shift the debate saying we “all need to do our share”.

So how much is that share?

$25,573.48

Twenty five thousand five hundred and seventy three dollars and forty eight cents for each taxpayer.

That’s $51,146.96 for a married couple.

Fifty one thousand plus.

And another thing to consider: what would happen if we to do try to bilk the rich for 40, 50, 60% of their income? What happens if they go John Galt? It’s hard to tax someone when the leave the country, close their business or simply quit producing the goods that society consumes. Think it doesn’t happen? Then how do you explain all these “jobs going overseas”, businesses closing their doors and supply shortages?

Lower tax rates, less regulations and cheaper labor can be found overseas, and many of those countries are desperately wanting the same economic stimulus that Obama is attempting to artificially create via forced taxation. The already weakened American economy is about to get another one of those wonderful “hand ups, not hand outs” from Uncle Sam.

I ask again- can I please get my invitation to Galt’s Gultch now?