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Friday, September 28, 2012

If They Tax Everybody and Everything, You Still Can't Fund the U.S. Government

In the wake of the passage of a 75% "super tax" on the rich in France and calls for higher taxes on the rich during the U.S presidential campaign, I want to post one of my shockingly favorite videos from last year.  Bill Whittle, using analysis by IowaHawk, attempts to "fund" the U.S. federal budget of approximately $3.7 trillion or about $10 billion per day by "eating the rich" or by taxing just about everybody and everything.  To the dismay of leftists everywhere, it simply doesn't add up. For example, he shows that if you take 100% of Exxon Mobil and Walmart 2010 global profits you would fund the U.S. budget for about.... three days.  He goes on to take all the profits of all the Fortune 500 companies, all the major sports leagues, all people making over $250k, etc. with shocking results.  Enjoy:



edjoyce said...

Notice how in every other case such as corporate profits, billionaires etc he extends to cover them all but in the case of land tax he does not. Forget the rest, give us the figure as a % of the value of all land above the per capita mean. It would be a small %.

Anonymous said...

If you take everything the rich own, you have their land, too, knucklehead.

Besides, he is trying to show you that if you liquidate all the rich and what they have, you would not only not have enough to pay for one year's worth of spending but you would not have any base whatsoever for future years.

Unknown said...
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Unknown said...

had to watch the full video.

so what I get from this video is that conservatives will spend no money but obama will spend a ton?