Consider the Internal Revenue Service’s income tax statistics for 2008, the latest year for which data are available. The top 1% of taxpayers—those with salaries, dividends and capital gains roughly above about $380,000—paid 38% of taxes. But assume that tax policy confiscated all the taxable income of all the “millionaires and billionaires” Mr. Obama singled out. That yields merely about $938 billion, which is sand on the beach amid the $4 trillion White House budget, a $1.65 trillion deficit, and spending at 25% as a share of the economy, a post-World War II record.
Say we take it up to the top 10%, or everyone with income over $114,000, including joint filers. That’s five times Mr. Obama’s 2% promise. The IRS data are broken down at $100,000, yet taxing all income above that level throws up only $3.4 trillion. And remember, the top 10% already pay 69% of all total income taxes, while the top 5% pay more than all of the other 95%.
***The Obama Libya cover-up explained. This is explosive - maybe even the network newscasts will mention it. Naaaa...
***Chris Matthews says it may be "unconstitutional" for Romney to challenge the President in a debate. Whaaa...? Geez, what a dolt.
***Boy, the Lance Armstrong thing is sad. I don't even follow cycling, but I was impressed by his story and his athleticism. Too bad.
***I love fall decorations, they're my favorite! Here's a neat idea:
Love the corn garland idea.
***Dr. Billy Graham's ad. Awesome. Click to enlarge.
In the image above is Shila Ghosh, an 83-year-old woman who lives in Pali in West Bengal, a state in the eastern region of India and is the nation’s fourth-most populous.
Her only son had heart ailment and passed away a few months ago. To make ends meet, Shila now works. Every evening, Shila comes from Pali to Kolkata to sell chips.
When asked if she has a problem in travelling, she weakly smiled and said: “No, the bus gets me here and my health is not that bad”.
Circumstances could have easily forced her to beg but her dignity and respect is everything for her, she is determined to work until the end of her life rather than to beg on the streets.
***An "unemployed" existence is a worse negation of life than death itself. ~José Ortega y Gasset
***Have a great day!