Off the Editor’s Desk – 10-17-2012
OK, here is to all of you that want to tax the rich!
Here is the latest scoop on people who are the rich folks in this country and what happens if we tax them really hard.
First, let the government take all income over $250,000 a year, which is a 100 percent tax on all income above a quarter of million dollars.
That amount of taxation will run the federal government for 141 days. Then tax all the profits from the top 500 companies in the United States at that 100 per cent figure. That will run the government for another 40 days.
Now, who is going to pay for the next 184 days of government expenses? That’s right, the middle class. The rest of us that have incomes of less than $250,000. Most of us have income must less than that.
But, if Romney is right, almost forty-seven percent pay no income tax at all. Now can you see why the government has to stop spending more money than it takes in? We are going to pay higher taxes no matter who gets elected, but stop spending so much. Romney said he would cut “Big Bird” and that was just an indication of how much money the federal government spends on programs which are not needed to keep this country going. Most of these are probably good programs, but we cannot afford to keep all those things going with taxpayer’s money. I heard the other day that “Big Bird” can get along without government funds. I hope that’s right.