This is a short story, something our President is incapable of writing.
If Obama took every dollar from every America making over $380,000, now paying 38% of the tax bill, he would add $938 billion to the budget revenue for the year.
If he took every dollar from every American earning over $114,000 a year he would get $3.4 trillion. These numbers are from the 2008 tax year, the latest figures available.
Total taxable income in 2008 was $5.65 trillion.
Obama’s budget is $4 trillion. It has a $1.65 trillion deficit. It is 25% of GDP.
Here’s the message, Mr. President. Even if you make us into the USSR, you will have to cut spending or the result will be same as it was for the USSR. Not enough money to go around.
