The world-famous Internet site of the Nationally Syndicated Neal Boortz Show!
Hi, (not you?) | Member Center | Sign Out
Posted: 7:33 a.m. Monday, Sept. 10, 2012
comment(49)
By Neal Boortz
In an interview yesterday, Dear Ruler said that he would be "more than happy to work with the Republicans" to cut our national debt … but that means the Republicans have to drop their opposition to raising taxes on the evil rich. Oh, so raising taxes on the evil rich is going to help trim our national debt? There’s only one, minor, teensy-weensy problem with this idea …
According to the Joint Committee on Taxation, the proposed tax increase would raise only $68 billion by shifting the top tax bracket from the Bush era rate of 35 percent up to 39.6 percent (plus a few from the health care law). The government expects to spend $9.9 billion per day, or a projected $3.627 trillion for this year. Based on these numbers, the addition $68 billion from a tax increase would pay for 6.8 days of government operation. Considering the deficit is projected to reach $1.2 trillion (continuing the streak of four straight years of deficits above $1 trillion), those additional 6.8 days would still leave 114.4 days of government unfunded. In fact, even if we taxed everyone who earns over $1 million 100 percent of their income - every single penny - we would still have 49.6 days where Washington has to borrow to cover its spending.
You read that correctly … raising taxes on the evil rich would only raise enough revenue to fund our government for less than one week.
Taxes are not the problem here. The problem is the size and scope of our government.
Neal Boortz chronicles his 42 years of talk radio in his book "Maybe I Should Just Shut Up and Go Away" Available on line and printed from Barnes and Noble and Amazon.
comment(49)
© 2013 Cox Media Group. By using this website,
you accept the terms of our Visitor Agreement and Privacy Policy, and understand your options regarding Ad Choices
.
Already have an account? Sign In
{* #registrationForm *} {* traditionalRegistration_displayName *} {* traditionalRegistration_emailAddress *} {* traditionalRegistration_password *} {* traditionalRegistration_passwordConfirm *}Already have an account? Sign In
{* #registrationFormBlank *} {* registration_firstName *} {* registration_lastName *} {* traditionalRegistration_displayName *} {* traditionalRegistration_emailAddressBlank *} {* registration_birthday *} {* registration_gender *} {* registration_postalZip *} {* traditionalRegistration_passwordBlank *} {* traditionalRegistration_passwordConfirmBlank *} {* agreeToTerms *}We have sent you a confirmation email. Please check your email and click on the link to activate your account.
We look forward to seeing you frequently. Visit us and sign in to update your profile, receive the latest news and keep up to date with mobile alerts.
Don't worry, it happens. We'll send you a link to create a new password.
{* #forgotPasswordForm *} {* forgotPassword_emailAddress *}We have sent you an email with a link to change your password.
We've sent an email with instructions to create a new password. Your existing password has not been changed.
To sign in you must verify your email address. Fill out the form below and we'll send you an email to verify.
{* #resendVerificationForm *} {* resendVerification_emailAddress *}Check your email for a link to verify your email address.


You're Almost Done!
Select a display name and password
{* #socialRegistrationForm *} {* socialRegistration_displayName *} {* socialRegistration_emailAddress *} {* traditionalRegistration_password *} {* traditionalRegistration_passwordConfirm *}Tell us about yourself
{* registration_firstName *} {* registration_lastName *} {* registration_postalZip *} {* registration_birthday *} {* registration_gender *} {* agreeToTerms *}