Here is what all Republicans need to be saying so obsessively that the media cannot fail to hear it and repeat it, even with softening and obfuscating commentary:
The United States borrows $125 BILLION a MONTH, and there is no plan on the table to stop, EVER. EVER.
Further, the top 1% of taxpayers already pays nearly 40% of the income taxes. That is wildly disproportionate to their size.
However, let us make the logical Communistic extrapolation of full confiscation of wealth. According to this website , that 37% constituted roughly $318 billion. The top tax rate is currently 35%. If I divide $318 billion by .35 I get $908 billion and change.
If I then divide $908 billion by $125 billion, I get 7.2 months. That is how long expropriating the ENTIRETY of the income of the 1% would allows us to NOT BORROW MONEY. This would not even touch our actual debt.
Let us say it is all Capital Gains, which of course is not the case, since most of these people are working professionals like doctors, lawyers, and executives, then we use 20%. I get 1.59 trillion dollars. Dividing that out gets us 12 months.
Keep in mind half of America pays NO taxes at all, outside of payroll and sales taxes.
THE CONCLUSION IS INESCAPABLE THAT OBAMA HAS PUT US ON THE PATH TO FINANCIAL RUIN AND THAT NO POSSIBLE INCREASE IN TAXATION CAN PUT A STOP TO IT.
Shout it loud, shout it clear, and shout it with the future of your children in mind.
I will add as a footnote, that I am not even counting in the coming failures of our Medicare and Social Security systems. The monthly deficit is going to get much, much worse.
The question is not whether or not we will be downgraded again and forced to pay higher interest rates, which will make our cash flow situation even worse, but when, and even why it hasn’t already happened.
Stupidity is a poison that works silently, until it is too late.