The Words of Walter Williams
Walter has a way of placing things in simple perspectives.
Well worth reading.
Here's a sample:
17) Households earning $250,000 and above account for 25 percent, or $1.97 trillion, of the nearly $8 trillion of total household income. If Congress imposed a 100 percent tax, taking all earnings above $250,000 per year, it would bring in about $1.9 trillion. That would keep Washington running for 190 days, but there’s a problem because there are 175 more days left in the year.The profits of the Fortune 500 richest companies come to $400 billion. That would keep the government running for another 40 days, to mid-July.
America has 400 billionaires with a combined net worth of $1.3 trillion. If Congress fleeced them of their assets, stocks, bonds, yachts, airplanes, mansions and jewelry, it would get us to at least late fall.The fact of the matter is there are not enough rich people to come anywhere close to satisfying Congress’ voracious spending appetite.
"Know in your heart that all things are possible. We couldn't conceive of a miracle if none ever happened." -Libby Fudim
I don't use the PM feature, so just email me direct at the address shown above.
I just love Walter Williams; alas not much of today's youth can read and comprehend no matter how simplistic but powerful his examples are.
Don't know if you can blame today's youth, the average age in the House is 57 and the Senate is 62, they are the ones making the decisions.
Originally Posted by Rose's Mom
Last edited by mngundog; 06-19-2013 at 07:40 AM.