Middle Money Madness

Debt ceiling | Ignore the fire alarms | The Daily Caller: "What most people don’t realize is that the U.S. has gorged so much (boosting spending from roughly 18% of GDP in 2000 to 24% of GDP today), that the only way to pay for it is to tax the middle class. The president keeps blaming “millionaires and billionaires,” but the top 25% of income earners already pay 86% of total taxes. And even if we raised the 35% top tax rate to 100% (meaning we confiscate all income in that top tax bracket), the U.S. would only collect about $365 billion. This would run the government for only about five weeks and would not solve our debt issues.

The money is in the middle. And the only way our politicians can get it is to follow Europe’s lead and institute a national sales tax or Value-Added Tax (VAT). This is the elephant in the room that is never talked about. Those who are using the debt ceiling in an attempt to cut spending are actually saving the middle class from tax hikes — not the millionaires and billionaires.

Fear and politics are joined at the hip, because fear motivates. And politicians at all levels have used the economy to generate fear for a long time. But, since the Great Depression they have turned it into an art form. Using Keynesian theory, they have convinced many that government spending actually helps the economy. But if this were true — if it were that easy — there would not be one poor person in the entire world, Greece would not be bankrupt and Europe would be wealthier than the U.S.

The truth is that the bigger the government (as a share of GDP), the fewer jobs the economy creates."

Betcha didn't know that did you? What's that? You're shocked that you didn't hear about this from Tingles? Shocked you tell me? I already explained Dear Leader's innumerate garbage about taxing the rich being the cure-all here. At least I tell a good joke in the depressing process...

What the money in the middle boils down to is the income demographic between $95K and $250K consists of 20% of households and takes down 40% of income -- about $4T. Everybody above $250K in income -- Dear Leader's boogiepeeps -- only take down 10% or $1T. That's why Wesbury comes up with a projection only $365B of that left to steal -- as counterintuitive as that seems. Sadly, it's the truth.

So don't bother to be at all successful, never mind "rich". You're toast. And when people like you give up, that's the end of America as we know it.

Not that that's Dear Leader's "intention" or anything...