Tax the Rich!

The “tax the rich” fallacy: If we tax the top 0.1% of taxpayers ($1.8 million and above) at 100%, the net new revenue to the government would be $640 billion. Obama is currently spending $8.8 billion per day. So if we CONFISCATE 100% of the income of the super-rich, we could keep Obama afloat for 73 days. Raising taxes to solve a SPENDING problem is a fool’s errand.

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