Tuesday, February 24, 2009

Math? We Don't Need No Steenking Math!

So the projected deficit this year is $1.3 trillion. Actually, since we just spent another $800 billion we don't have, it'll end up closer to $2 trillion. And President Obama promised yesterday that he would cut that to $500 billion by the end of his term.

Wouldn't it be a lot easier to spend less money if you stopped spending so much money? I mean, it's a little ridiculous for you to pass the most expensive bill EVER and then promise to reduce debt.

You know what economists have figured? Just to pay for the spending of the last 18 months--ignoring the $10 trillion of debt we already had and the $100 trillion plus owed in Social Security, and those are big things to ignore--the top tax bracket would have to pay, not 40%, not 50%, but 95%. So how, exactly, is the president planning on increasing spending even more, while reducing debt? Confiscating all wealth in the country wouldn't be enough to eliminate our debt.

I've been reading Atlas Shrugged for a while, and it's scary how close we're getting. If you start talking 90% tax rates for the rich--even over 50%--the people who are getting paid from your looting will love you. But the people who make the entire system possible--who provide jobs and most of the government's funds--will not stand for it. What do you think would happen if the rich decided that they aren't going to pay 90% taxes, that they aren't going to pay 55% taxes, and simply stopped--shut their companies down, moved somewhere else, and lived off what they've already accumulated? What if the productive people, who bear an enormous burden that will shortly get much heavier, simply refuse to play anymore? What happens when a system exists by bleeding dry the very people who make it possible, and those people get fed up with it? The evil rich are the ones who create jobs, doing more for the poor than government ever will. What happens when they go on strike?

1 comment:

  1. Great post. It's a left hand versus right hand situation with the Democrats. Either one hand doesn't know what the other is doing (bad) or else one has giving you the cash the other just picked from your pocket (worse).