Words Wrote:
Nov 14, 2012 7:44 AM
I read an article a couple of years ago that the government had lost something like $780 billion dollars (if I remember correctly) a year due to so many people falling out of the higher tax brackets. Every year there seems to be less "rich" to tax. Not to mention, the "rich" where we live were hit very hard when the real estate bubble popped. It seems like the entire area has had a 25% loss in value of their real estate. The houses over a million dollars were hit particularly hard. How do you make up not tens of thousands of dollars, but hundreds of thousands of dollars, or even millions of dollars. The foreclosure rate is high in those areas, too. The rich aren't going to save us. They don't have enough money.