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Politics : Politics for Pros- moderated
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From: Bearcatbob4/3/2010 10:05:57 AM
3 Recommendations   of 793916
 
Here is some data that I believe shows the magnitude of the deficit problem.

Data Point: Out year deficits remain at a trillion $ per year.

Data Point: The median income of US families is approximately $50k per year.

Data Point: Assume 100 million tax paying units (3 people per family/unit).

Data Point: Assume no tax increase on the bottom half yields 50 million tax paying units.

Data Point: 1.5% of house holds have income over $250,000.

en.wikipedia.org

Calculation: $1 trillion divided by 50 million yields $20,000 extra tax per tax paying unit. (Note: You could manipulate the numbers but the answer is no different,)

Assumption: We tax a billion $ out of the top 1.5%

Conclusion: The tax burden to fund our spending is mind boggling.

Questions to our Obama Supporter Friends: What impact on opportunity would such a tax increase have? What impact on economic activity would such a tax increase have?
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