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Why Romney’s Remarks on 47 Percent Dependency Are Wrong, Wrong, and Right

0_BAMANATION Wrote: Sep 22, 2012 10:56 PM
LIQUIDATE AMERICA'S BILLIONAIRES AND MILLIONAIRES You could liquidate every billionaire and millionaire in America (to include foreign holdings) and apply such to only pay down the National Debt and would still have a debt amounting to $12 Trillion. 90% of America's net worth and wealth is held by 99% of the US population. We call that group.... the 'middle class'.
SpaceVegetable Wrote: Sep 24, 2012 2:16 PM
So true. But unfortunately, the leftists have been brainwashed to believe that taxing the wealthy at a higher rate will magically solve all the country's fiscal problems. They don't realize that they're off by at least an order of magnitude on the actual numbers. Failing math class must be one criteria for joining the Democratic Party.
Texas Chris Wrote: Sep 24, 2012 8:32 AM
You could repeal the 1913 Federal Reserve Act and write off the $2 trillion the Fed has printed, too, and nobody would lose their life savings. (I understand you were not advocating wealth seizure)

Mitt Romney is catching a lot of flak for his surreptitiously recorded remarks about 47 percent of voters automatically being in the Obama column because they don’t pay federal income tax and thus see themselves as beneficiaries of big government.

Since I’ve warned about dependency and raised the alarm that we risk becoming another Greece unless entitlements are reformed, one might think I agree with the former Massachusetts governor.

Not quite. I think Romney raised an important issue, but he cited the wrong statistic and drew an unwarranted conclusion.

Here’s what I said to Neil Cavuto about the controversy.

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