How Quickly Can Obama Totally Destroy the US? Message Board

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Politics : How Quickly Can Obama Totally Destroy the US?

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To: Hope Praytochange who wrote (516)	12/19/2012 4:57:01 PM
From: Wayners	Read Replies (1) of 16547

Max Tax Revenue = 20% X GDP period. History proves this law to be true. They can't collect more than about $250B to $300B extra per year. That leaves over a trillion still hanging out in the wind in deficits that keep going up up and up and more up. Income taxes aren't going to do it period. The money in this country isn't in incomes from people working jobs, it's in asset ownership, that is untaxed. I could have $100M in cash, $400M in Gold Bars, $320M in Silver Bars, $13B in real estate, and pay nothing in income taxes, as long as they assets didn't produce income. In fact, I'd probably qualify for welfare.

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