Derek85 Wrote:
Dec 05, 2012 7:05 PM
The Total Amount of Income Tax collected from EVERYONE, top to bottom is only $865 billion (IRS.net - 2009 last year available). Obama's Annual Deficits are running $1.35 Trillion. If we told EVERYONE to DOUBLE their taxes, it would not be nearly enough. The Total Taxable Income for everyone who made over $200,000 is 1.6 Trillion and they paid $434 Billion in Income tax, leaving only a $1,16 billion balance to cover Obama's $1.35 Trillion deficits. Therefore if they were taxed at 100% it would NOT BE NEARLY ENOUGH.