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How Much Taxation Would
Fund Current Spending?

American Thinker, by Justin Hohn

Original Article

Posted By:magnante, 12/12/2012 9:40:29 AM

To best understand this spending aspect of the current budget negotiations in Washington, we must answer one crucial question: how much taxation on the top income-earners would be required to fully fund the present level of government spending? (snip) The IRS says 236,883 Americans filed returns with more than $1 million in income. They reported a total income of $726.91B. While that is a lot of money, it´s less than just Medicare and Medicaid, which cost $1 trillion together.

      


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Reply 1 - Posted by: mickturn, 12/12/2012 10:07:54 AM     (No. 9061305)

The better question is IF everyone paid 12.5% (I pulled the number from the air...) what would it fund?

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Reply 2 - Posted by: pgvoisin, 12/12/2012 10:22:23 AM     (No. 9061340)

NOTHING can fund current spending.

BYW, current spending is NOT covered by revenue.
Add a LARGE slice of borrowing that is not sustainable, and you get to the real number.

And the next time you run into an Environmentalist, ask them if they be in SUSTAINABLE Energy.

Then ask them if they believe in sustainability, why did they vote for Obama who is spending in a way that is NOT SUSTAINABLE?

Either they believe in sustainability or they don´t!
They can´t have it both ways!


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Reply 3 - Posted by: pgvoisin, 12/12/2012 10:25:10 AM     (No. 9061346)

Sorry about the typos in my last email…

NOTHING can fund current spending.

BTW, current spending is NOT covered by revenue.
Add a LARGE slice of borrowing that is not sustainable, and you get to the real number.

And the next time you run into an Environmentalist, ask them if they believe in SUSTAINABLE Energy.

Then ask them that IF they do believe in Sustainability, why did they vote for Obama who is spending in a way that is NOT SUSTAINABLE?

Either they believe in Sustainability or they don´t!
They can´t have it both ways!


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Reply 4 - Posted by: PoliticalJunky, 12/12/2012 11:36:31 AM     (No. 9061538)

Millionaires are starting to move out of France. Before Margaret Thatcher came to the rescue wealthy people moved out of Emgland, most toS Switzerland. Liberals don´t seem to be able to get it into their heads that people can and will move out. I guess it must be the fact that liberals only think one step at a time. For some reason, they cannot anticipate unintended consequences and whenever conservatives try to point out that unintended consequences will occur we are accused of being heartless and are brushed aside.

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