The data indicate that 17,446,537 tax returns showed an income over $100,000. These returns represented a total income of $3.765 trillion.
Estimated 2012 spending comes in at $3.796 trillion (refer to page 205 here). This is still $30 billion more than a 100% confiscation of the annual income of all Americans that reported more than $100K of income for 2009.
The bottom line is that we cannot fund our current levels of spending even if we make unrealistically charitable assumptions about taxpayer response to confiscatory tax rates and confiscate the entire annual income of every American who made more than $100K in 2009.
Government Gone Bad
The benefit of government leaving us alone is rarely intuitive.
Because companies just want to make a buck, it's logical to assume that only government rules assure workers' safety. The Occupational Safety and Health Administration sets safety standards for factories, and OSHA officials proudly point out that workplace deaths have dropped since it opened its doors.
Thank goodness for government, right? Well, not so fast. Go back a few years before OSHA, and we find that workplace deaths were dropping just as fast.
Workers are safer today because we are richer, and richer societies care more about safety. Even greedy employers take safety precautions if only because it's expensive to replace workers who are hurt!
Government is like the person who gets in front of a parade and pretends to lead it.
In a free society, things get better on their own -- if government will only allow it.
YES! “In a major win for Second Amendment rights, a three-judge panel of the U.S. Seventh Circuit Court of Appeals threw out Illinois’s virtual ban on the carrying of any guns, whether concealed or otherwise,” reports Heritage’s Hans von Spakovsky.
"I think the subject which will be of most importance politically is Mass Psychology. ...It's importance has been enormously increased by the growth of modern methods of propaganda ...Although this science will be diligently studied, it will be rigidly confined to the governing class. The populace will not be allowed to know how its convictions were generated."
-- Bertrand Russell
- AMAZING! Freedom From Union Compulsion in a state Obama took by 15%! Handwriting on the Wall? http://bit.ly/Zg1xmB
- Change in Washington Can Only Come From the Outside > The front lines are in our communities! http://bit.ly/Zg0qDB
- GOP Eyes New Policies to Attract Working Class - To some, family and service more important than wealth! http://bit.ly/Zg4xzz
- Welcome to QE4! We continue devaluing the dollar and depleting saving as far as the eye can see. http://bit.ly/12lSwHP