Why not tax the rich and the corporations who are hoarding all the wealth?
"Tax those evil corporations!” you say? - If you flat out confiscated 100% of the 2010 profits of ALL of the Fortune 500 corporations you would only have enough $34B - just enough to run the government behemoth for about 5 and a half weeks.
If you also confiscated:
- ALL of the money ever spent on those outrageously expensive Super Bowl ads - $250M
- Every penny earned by all of those multi-millionaire athletes in the NFL, NBA, PGA, NHL, NASCAR - all of it - $9.4B
- Forget about taxing the rich; I say, LETS EAT THE RICH! Don't just raise their taxes but take every last penny from every last American who earned more than $250K - take every penny! - $1.42T
- Grab every thin dime earned by the Star Wars movies, box office take, toys, and figures, ALL of it. - $25B
- Still blaming "Bush's wars" for the deficit? OK, stop the wars and grab ALL of that money too. - $264B
- Evict all the wealthy Hollywood glitterati, fancy pants movie stars from their mansions and sell them; 15,000 mansions at an average $2M each - $30B
- I got it! What if every single billionaire in the country (400 of them - including Buffet, Gates and Zuckerburg) had an "unfortunate accident" and we got 50% of their massive fortunes (which they probably stole anyways) in estate taxes? - $650B
- Aw screw it! Just kill ALL of the billionaires and take ALL of their money and the next 100 or so nearly-billionaires too! - $740B
- Cut out ALL foreign aid, especially those evil Israelis (who, as we all know wouldn't survive without the US hurling mountains of money at them). - $50B
OK, so you have completely taxed away all of the profits of the Fortune 500, professional sports millionaires, the Hollywood movie stars, ALL of the wicked, evil, greedy rich ɓąstards (that Michael Moore claims are hoarding the wealth), ended all foreign aid, surrendered both wars - and we're still short. Every American man woman and child will have to chip in just $40 (but that's HUGE tax increase on the 47% of earners who now pay NOTHING) - and congratulations! You've paid the U.S. budget FOR ONE YEAR!
But you've also liquidated and destroyed the nation to do it. And you have even touched the national debt of $14.3 trillion, you would have to repeat all of the above four more times, but of course you can’t do that because the nation is now a third world wasteland.
OK, so if we've proven that we can't tax our way out of this, can we all agree that we must DRASTICALLY cut spending - or are we still stuck on stooopid?
Thanks to the brilliant Iowahawk for this eye opening research (http://iowahawk.typepad.com/).