In 2010 the top 1% or 3 million people give or take paid 40% of taxes. This amounts to each person in the top 1% paying about 290,000 dollars in federal taxes on average. Now the bottom 99% of wage earners paid 60% of all federal taxes or about 1.32 trillion dollars. This amounts to each person in the bottom 99% paying an average of 4400 dollars in federal taxes.
The deficit was 1.3 trillion dollars in 2010 which amounts to over 4000 dollars of extra debt for every man, woman and child in the United States accumulated in just one year. If you took every penny the top 1% earned it would not balance the budget. If you doubled every wage earners tax rate which would essentially take everything that the wealthiest 4-5% earned it would not balance the budget.
I realize that these are simple, first grader type calculations that require no great insight or intellectual capacity to perform. I am somewhat sure that the politicians in Washington are capable and in fact have also performed these calculations and are aware of these facts.
The question then, is why are both parties promoting tax and spend while ignoring the cutting? Do they believe no solution exists because we have long since passed the point of no return where more than ½ of the US population gets more from government than they pay to government? Do they believe that in the US like in Greece it is impossible to peaceably and orderly pull back even modestly on government handouts not just to the poor but to the very wealthy as well? Have our own politicians lost control of the US government giving over control to large money interests?
Why are countries like China, Russia, India, and Brazil buying gold and silver by the 100s of tons while dumping European and US debt as fast as possible. Why would the leaders in these countries, which also have their share of brilliant economists, be headed in such a drastically different direction than the US and Europe?
I don’t know the answers to these questions but I am afraid the answers will be shocking.
Many of the answers are available at campaignforliberty.org.
Ron Paul is the only candidate who has even attempted to address any of these issues.
afoolsperspective 