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This Graph Says it All: “Spending is the Problem”

jthepimpernel Wrote: Dec 13, 2012 6:52 PM
Historically, tax revenues average 19.5% of GDP, regardless of tax rate (see Hauser's Law). Ubama's tax increases will generate LESS revenue. But he doesn't care about revenue. He cares only about punishing the people he hates. That's what happens when you elect a foreign agent to be pResident.

Anyone who believes that the president’s proposed tax hikes on “the rich” will save our country from insolvency is grossly mistaken, and should begin to educate themselves by examining the graph below. Whoa:

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This isn’t the least bit surprising, of course. We’ve seen this coming for a very long time. Barring major cuts to entitlement spending the country will go bankrupt. It’s not a possibility -- it’s an absolute certainty. Which is why I find all the “negotiations” surrounding raising taxes on...