How Much Taxation Would Fund Current Spending?

American Thinker ^ | 12/12/2012 | Justin Hohn

[lentulusgracchus]

[AiI] It will end with a super politician, worshiped by many, called the Anti-Christ in the Bible.

He's already in the White House.

Someone early this evening on AM radio, about sixish, was playing excerpts from a very, very old tape of Paul Harvey "back in the day" (like, 40 or 50 years ago) about that same point in Revelation (Liber Apocalypsis Ioannis), about people worshipping the Beast.

Then he played some black tent-shouter hailing Obama as God-sent Savior of Our People, and the people all cheering and clapping and ranting. It was a pretty amazing juxtaposition.

[AFPhys]

“The data indicate that 17,446,537 tax returns showed an income over $100,000. These returns represented a total income of $3.765 trillion.

Estimated 2012 spending comes in at $3.796 trillion (refer to page 205 here). This is still $30 billion more than a 100% confiscation of the annual income of all Americans that reported more than $100K of income for 2009.”

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I have been yearning to do this type of analysis myself, but never got around to it. I WILL use this article in my discussions from now on!

One way I will expand upon it is by telling/asking, “It seems too draconian to take 100%, though, right?” [”Yes”] “So let’s allow all of these people to keep $100,000.” [”Great-that’s surely enough for anyone”]... “Our government should certainly be small enough that that much should be enough, right?” [”Right”]

So, 17,446,537 taxpayers with an income over $100,000 - we let them keep their first $100K... that means instead of $3.765 trillion, they end up paying $2.020 trillion in taxes - that is about 53% of the current spending of the Federal government (only Federal, not state and local). Who is going to fund the other 47%, and how? (By the way, Corporations NEVER pay taxes- the people who buy their products pay them!) We’re clearly going to have to confiscate most of the salary of people earning $50,000/yr, or even $20,000/yr, also.

The point is, and it is made VERY well with this data - our Federal government is TOO BIG to be funded at all right now.