Midknight Review -- new and revised: Obama talks about the rich doing their "fair share." How's this for fair share: 24% of the population pays 87% of a tax revenues. Conversely, 76% of the population pays just 13% of all income tax revenues.

Obama talks about the rich doing their "fair share." How's this for fair share: 24% of the population pays 87% of a tax revenues. Conversely, 76% of the population pays just 13% of all income tax revenues.

<<<< 26% of the population supports the remaining three fourths of the population. Maybe "doing your fair share" should mean getting off your lazy butt and supporting yourself. For certain, we "rich" folks are already doing our fair share.

When we think of wealth transfer, this chart proves that "wealth transfer" via taxation is a full-throated fact. Half of the population accounts for only 3% of all income taxes. When we expand that population to 74% of all working age adults, we find that this group, again 3/4 of the total adult population, pays only 13% of all taxes.

When 76% of the population is supported by 24% of the labor force, wealth distribution is a already a reality. No more talk of wealth distribution and doing our fair share. That has been the case for years. Now, it is time for spending cuts that actually effective base-line budgeting, if we ever get back to budgeted spending., that is. The Social Democrat Party no longer believes in budgets and has not worked on a budget in three years. Understand that, under the Obama Administration, this country's business obligations have been "governed" by a series of "continuing resolutions" (18 in three years). If you realize that a "continuing resolution" CONTINIUES the spending patterns of the previous approved budget, you will understand that spending cuts effecting a budgeted baseline, are not possible in a continuing resolution; properly speaking, "spending cuts" are part of a prepared budget. And, so, the Democrats, under Obama, have "pulled a fast one" on the American people. Since the Social Democrats no longer believe that "unsustainable" spending is even possible ("all government spending is stimulus" Obama, spring of 2009), operating without a budget is a perfect way of running the national government.

Conclusion: please do not forward me another article that posits the intelligence of the Left over and above conservatives. Their theory of national finance is proof that "intelligence" has nothing to do with the thinking of the idealistic Left, nothing.

1 comment:

AnonymousMay 26, 2012 at 12:16 AM
They top should pay more. WHy?

66% of the income growth between 2001 and 2007 went to the top 1% of all Americans.

Only the top 5 percent of U.S. households have earned enough additional income to match the rise in housing costs since 1975.

In 1950, the ratio of the average executive’s paycheck to the average worker’s paycheck was about 30 to 1. Since the year 2000, that ratio has exploded to between 300 to 500 to one.

The bottom 50 percent of income earners in the United States now collectively own less than 1 percent of the nation’s wealth.

The top 1% of U.S. households own nearly twice as much of America’s corporate wealth as they did just 15 years ago.

Despite the financial crisis, the number of millionaires in the United States rose a whopping 16 percent to 7.8 million in 2009.

83 percent of all U.S. stocks are in the hands of 1 percent of the people.

61 percent of Americans “always or usually” live paycheck to paycheck, up from 43 percent in 2007.

Approximately 21 percent of all children in the United States are living below the poverty line in 2010 – the highest rate in 20 years

43 percent of Americans have less than $10,000 saved up for retirement
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Let's return the favor, shall we?

CLINTON: You cannot be civil with a political party that wants to destroy what you stand for, what you care about. That’s why I believe if we are fortunate enough to win back the House and/or the senate, that’s when civility can start again. But until then, the only thing that the Republicans seem to recognize and respect is strength. And you heard how the Republican members led by Mitch McConnell, the president really demeaned the confirmation process.

The Stated Nonsense from the Left now includes these Progressive goals:

July 2, 2008, Obama had this to say: "We cannot continue to rely only on our military in order to achieve the national security objectives that we've set. We've got to have a civilian national security force that's just as powerful, just as strong, just as well-funded."

MICHELLE OBAMA: "Barack knows that we are going to have to make sacrifices; we are going to have to change our conversation; we're going to have to change our traditions, our history; we're going to have to move into a different place as a nation."

“ . . . . . . they have become a generation of activists possessed with that most American of ideas – that people who love their country can change it.” -- Obama the Radical

On September 30, Van Jones told MSNBC "I think everybody should hold onto your seats. October is going to be the turning point when it comes to the progressive fight back."