it doesn't matter if you're Democratic or Republican, liberal or conservative, rich or poor or whatever- if you're an informed, reasonable person you must see this is essentially what we're facing in this country.
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7 comments:
That is the fallacy of "government jobs". We must tax REAL workers to get the money for these jobs. But attacking businesses means real jobs are scarce. So where does the money come from? Print more.
Get a wheelbarrow, folks. You will need it soon to buy a loaf of bread.
I'm a little scared by all that we are facing as a country.
That is EXACTLY what we are doing... it is also known as shooting yourself in the foot!
Hey -- He's the great and powerful Obama. He has the smartest most sharpest minds in the history of the world working on this problem.
Just a wee bit of real economics. Government jobs do not grow the GDP. The more money taken out of the economy and placed in the hands of the government decreases the GDP. A country's real wealth is based upon it's GDP. Every time money is moved from a citizen's pocket to the government's and then to the economy it costs money each and every time that dollar is transferred.
The bottom 50% (people with an AGI of less than $32,879.) of tax payers could care less how much the government spends because they only pay 2.99% of all the personal federal income tax paid in the U.S. The bottom 50% will always vote FOR government spending and handouts so long as the bottom 50% is assured people other than them will pay for the government give-aways.
The top 5% of taxpayers (people with an AGI of more than $160,041)pay 60.63% of all personal federal income taxes. A wee bit more shocking is the fact that the top 25% of taxpayers (taxpayers with an AGI of more than $66,532) pays 86.59% of all personal federal income taxes. That means the lower 75% of taxpayers (people with an AGI of less than $66,532) only pay 13.41% of all personal federal income taxes.
Who pays taxes CHART
opus- right as usual. i read somewhere recently that 80+ percent of Californias tax burden is carried by only 225 thousand people. insane, absolutely insane.
ada- you and me both dear. too bad you're married- we could get together and face the apocalypse.
g- exactly.
sharkie- i know you believe every word of your diatribe with all your heart...
mz- yeah, what she said.
I noticed this week that on WBAP, California is advertising Revenue Anticipation Notes (RANs) - bonds really, to, uh, shore up their cash crunch.
With a total offering of just $8.8 Billion, the supply of these investment grade bonds is limited - better hurry and get in on the ground floor now!
What I think is a hoot is how they're being pitched as a sophisticated investment when in fact it's the functional equivalent of California trying to get a payday loan.
In a former life I was a[n] [honest] loan officer - I wouldn't make California a loan.
Unless I could get Yosemite National Park as collateral...
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