Meet The Rich & Then What – UPDATE
I promised to educate the public on just who the rich is since no one with an (R) behind the name has the cajones to dare stand up [FOR] the most discriminated class of people in America. (I was required to sit through a Fair Housing workshop yesterday, and yes, income status is a class that can’t be discriminated against. Whether low or high, you can’t treat people differently just because of their income.)
Here’s the chart I created to help show that the people making over $200,000 a year and not exclusively Bill Gates or Monty Burns. A large portion of the incomes in that top bracket Obama and Democrats so desperately want to
punish er – make pay their fair share, are not people just hoarding cash to use as toilet paper or to burn for heat because they are greedy fat cats.
They are employers, investors, successful people who worked hard and being rewarded from smart investments…. They are every day Americans who lay a huge role in keeping the economy going.
The key is they are the backbone to our economy. Yes, we need workers, but if there is no one to finance or supply the machines or tools….
Take away “the rich’s” incomes and it will affect the economy, more importantly it will remove any incentive for them to consider doing that again. If everything you worked for was taken away from you would you try to do it again, and again, and again?
This chart shows where the incomes in the top bracket actually come from. The data is from 2009 IRS numbers. Individuals, Farmers, S-Corps, Social Security, Investments, pensions, you name it. All play a significant role in the economy. The economy would collapse with out their incomes.
Take note at the bottom, that if you took every single penny that these people made in 2009 away from them, you’d barely be able to balance the Federal Budget for that one year. Keep in mind by the end of Obama’s 2nd term, we will need almost an additional $1 trillion more in revenue (taxes) just to keep pace with spending increases to balance the budget.
Meet the Rich.
If you took every single penny that “the rich” made in one single year, it would balance the budget for a single year.
Folks, the fiscal cliff is not sticking it to the rich. Its not a matter of socialist fairness and a workers revolution.
The Fiscal cliff is the bills of America surpassing the ability to pay. The housing market collapsed by the very same principles being promoted as the cure for the Federal Budget.
Sub-prime loans, cooking the books, interest only loans, gambling on your income going up at exponential rates so you can afford to double your payments in a handful of years….
Another great example is the dot com bubble. Politicians in Washington are not trying to solve the problem, they are trying to swindle you into thinking they are solving the problem.
Spending is what is causing the debt.
Its the spending stupid.
And here’s another great point thanks to Howard Dean. “The Truth is Everybody Needs to Pay More Taxes, Not Just The Rich.”
You want the spending, then EVERYONE is going to have to pitch in, because as I point out above, there isn’t enough to revenue to take away from the rich in order to keep up the high spending rates.