Republican Senator Jim DeMint had a good line in response to Obammer’s State of the Union address. He says that there “are not enough Warren Buffetts in the world that we could take all their money” in order to solve our debt crisis.

He’s absolutely right, though I wouldn’t expect your average American to know this. Heck, many members of Congress, particularly the libs and proggies, may actually believe in their heart of hearts that taxing the rich could solve our deficit crisis.

I’ve pointed you to this Walter Williams article before … it does an excellent job of explaining how we can’t tax our way out of this mess.

If Congress imposed a 100 percent tax, taking all earnings above $250,000 per year, it would yield the princely sum of $1.4 trillion. That would keep the government running for 141 days, but there's a problem because there are 224 more days left in the year.

How about corporate profits to fill the gap? Fortune 500 companies earn nearly $400 billion in profits. Since leftists think profits are little less than theft and greed, Congress might confiscate these ill-gotten gains so that they can be returned to their rightful owners. Taking corporate profits would keep the government running for another 40 days, but that along with confiscating all income above $250,000 would only get us to the end of June. Congress must search elsewhere.

According to Forbes 400, America has 400 billionaires with a combined net worth of $1.3 trillion. Congress could confiscate their stocks and bonds, and force them to sell their businesses, yachts, airplanes, mansions and jewelry. The problem is that after fleecing the rich of their income and net worth, and the Fortune 500 corporations of their profits, it would only get us to mid-August. The fact of the matter is there are not enough rich people to come anywhere close to satisfying Congress' voracious spending appetite.

There aren’t enough rich people. We must lower spending. That’s it, folks. This isn’t tough to figure out, unless you are a Democrat who can’t stand the thought of shrinking the size and scope of our precious federal government.