Businesses, as well as most nonprofit enterprises, by law are required to produce financial statements that include all of their present and expected future liabilities. On top of that, they are...
"If Congress imposed a 100 percent tax, taking all earnings above $250,000 per year, it would bring in about $1.9 trillion. That would keep Washington running for 190 days, but there's a problem because there are 175 more days left in the year." And of course there are more years in the future, but after being taxed at 100%, none of those rich people would be around to pay *any taxes at all* in the future, making the deficit problem far worse for all those years. "Taxing the rich" to pay for the welfare state is a flight from reality, a daydream that only provides an excuse for not facing up to the reality of the budget mess.
Is there any reason for today's Americans to care about what happens to tomorrow's Americans? After all, what have tomorrow's Americans done for today's Americans? Moreover, since tomorrow's Americans don't vote, we can dump on them with impunity. That's a vision that describes the actual behavior of today's Americans. It would be seen as selfish, callous and ruthless only if it were actually articulated. Let's look at it.
- Are bans on high capacity magazines constitutional? Jazz Shaw 44 minutes ago
- Quotes of the day Allahpundit 12 hours ago
- EPA exonerates Christie administration in obscure bridge-related offense someone made up Mary Katharine Ham 13 hours ago
- California energy companies are getting the heck outta’ dodge and moving to Texas Erika Johnsen 13 hours ago
- CNN poll: 58% oppose abortion in most or all cases Ed Morrissey 14 hours ago
- Video: Rand Paul’s very libertarian speech at CPAC Allahpundit 15 hours ago