Obamanomics 101: Even if every citizen paid the government every cent of income, we still couldn’t cover the projected deficit for one year. But don’t worry, only the rich are paying taxes. Forbes.com points out that even “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.”
If this is hope, where’s the change? Why bother trying to save any money at all? The Feds are printing new money faster than all of us together can earn it. (Though not as fast as Congress can spend it.)
We say, enjoy it now. Do what the politicians do and blow it on your own special interests. Buy a boat. Name a building after yourself. Rack up your credit cards like there’s no tomorrow. Then vote yourself a raise.
