Power Line - Where the Money Is: "This chart from the Wall Street Journal tells you pretty much all you need to know about the credibility of the Democrats' claim that they can solve the country's fiscal problems by raising taxes on 'the rich.' The chart, based on 2008 IRS data, shows how much total income was reported by Americans in each income range. Click to enlarge:"
If you took every penny of income of those making a million or more of income you'd have less than $1T to try to eliminate this year's budget deficit of ... $1.6T. Whoops.
And how many of your victims will be hanging around next year to see if you're going to do that to them again? And what do you suppose will happen to what few new jobs are being created? Have you ever been hired by a poor man?
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