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Understanding The Debt
Federalbudget.com ^
Posted on 07/10/2011 9:23:00 PM PDT by freejohn
Some suggest "tax the rich to make up the deficit".
As of the end of 2010, the total worth of all American billionaires is $1.3 Trillion.
We could take ALL their worth, not just high taxes, but ALL their WORTH; and it wouldn't dent our national debt. It wouldn't even pay this year deficit!
And if we did take their money to pay some of this year's deficit, what would we we do next year?
(Excerpt) Read more at federalbudget.com ...
TOPICS: Business/Economy; Constitution/Conservatism; Government; News/Current Events
KEYWORDS: 57states; bankrupt; broke; debt; default; deficit; economy; police; rich; spending; taxes; teachers; upsidedown
I was doing some research on all this .. "Raise the debt limit or we will default" talk when I ran into this site.
I find it to be .. not only informative but also easy to understand!
There is so much information on the site that I still haven't got to what I was first looking for which is: How much .. (per month) do we owe on the debt compared to How much we (The Feds) take in monthly?
1
posted on
07/10/2011 9:23:05 PM PDT
by
freejohn
To: freejohn
This be a really good time to get one’s survivalist ducks in a line. When it blows, there will be no end to misery.
2
posted on
07/10/2011 9:34:21 PM PDT
by
April Lexington
(Study the Constitution so you know what they are taking away!)
To: freejohn
This be a really good time to get one’s survivalist ducks in a line. When it blows, there will be no end to misery.
3
posted on
07/10/2011 9:36:14 PM PDT
by
April Lexington
(Study the Constitution so you know what they are taking away!)
To: freejohn
This be a really good time to get one’s survivalist ducks in a line. When it blows, there will be no end to misery.
4
posted on
07/10/2011 9:36:14 PM PDT
by
April Lexington
(Study the Constitution so you know what they are taking away!)
To: April Lexington
April
One of your keys is stuck! 8)
5
posted on
07/10/2011 9:39:15 PM PDT
by
freejohn
("Never argue with a fool; onlookers may not be able to tell the difference." --- Mark Twain)
To: freejohn
Finally, something most people can understand. Rich people, 1.3 trillion, Obama/gov’t spending 14 trillion. Which needs changing?
6
posted on
07/10/2011 9:43:32 PM PDT
by
skr
(May God confound the enemy)
To: April Lexington
just as long as we're all
equally miserable.
"Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery."- Winston Churchill
7
posted on
07/10/2011 9:54:47 PM PDT
by
WOBBLY BOB
( "I don't want the majority if we don't stand for something"- Jim Demint)
To: freejohn
"
Some suggest 'tax the rich to make up the deficit'."
And many, for their local government interests, would like to find a sneaky way to agree on that while hoping that their private interest constituents won't see that the deal was made.
Negotiations on Deficit Resume at White House (Boehner offered to let Bush tax cuts expire)http://www.freerepublic.com/focus/f-news/2746613/posts
8
posted on
07/10/2011 10:17:04 PM PDT
by
familyop
("Don't worry, they'll row for a month before they figure out I'm fakin' it." --Deacon, "Waterworld")
To: freejohn
As of the end of 2010, the total worth of all American billionaires is $1.3 Trillion.
LOL - now you're talking about the rich - the income tax is incapable of targeting them, although all politicians would like you to think it does.
9
posted on
07/10/2011 10:41:58 PM PDT
by
andyk
(Interstate != Intrastate)
To: freejohn
Nobody wants or is saying the will pay off the National Debt of 14 TRILLION DOLLARS.
The only plan that will work is FREEZE THE CEILING. That will force US to live under it.
FREEZE THE CEILING.
10
posted on
07/11/2011 12:16:44 AM PDT
by
TomasUSMC
( FIGHT LIKE WW2, FINISH LIKE WW2. FIGHT LIKE NAM, FINISH LIKE NAM)
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