Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: JakeStraw who wrote (421859)	4/14/2011 2:18:39 PM
From: Brumar89	4 Recommendations Read Replies (1) \| Respond to of 793845

According to Internal Revenue Service data, the entire taxable income of everyone earning over $100,000 in 2008 was about $1.582 trillion. Even if all these Americans—most of whom are far from wealthy—were taxed at 100%, it wouldn't cover Mr. Obama's deficit for this year. Every American ought to know that fact. That ought to prove to sane people we can't solve out fiscal problems by taxing the rich. The immediate political goal was to inoculate the White House from criticism that it is not serious about the fiscal crisis, after ignoring its own deficit commission last year and tossing off a $3.73 trillion budget in February that increased spending amid a record deficit of $1.65 trillion. The WH isn't serious about the fiscal crisis - why get serious now? Mr. Obama did not deign to propose an alternative to rival Mr. Ryan's plan, even as he categorically rejected all its reform ideas, repeatedly vilifying them as essentially un-American. ..... The President was not attempting to join the debate Mr. Ryan has started, but to close it off ..... Mr. Obama presented what some might call the false choice of merely preserving the government we have with no realistic plan for doing so ..... Pathetic. online.wsj.com