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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (95777)	6/30/2011 5:12:10 PM
From: Sdgla	Read Replies (2) \| Respond to of 149317

Why not just tax their wealth Wharf ? Why tax their income when the billionaires like Pelosi, Gates, Buffet, Soros and the Kennedy's could just write a check from their checking accounts ? Think of the money we could save bypassing the IRS and having a direct deposit made to the Treasury..... Of course all the money they have would not cover the debt Obama has wracked up would it ? This would be a much better starting point instead of demonizing those that are successful : Regulations Price Tag for Compliance Cost: $1,750,000,000,000 Posted on April 21, 2011 by Glenn H. Ray Regulation Day Every year we are reminded how much money the government filches from us on Tax Day. However, there is no equivalent “Regulation Day” to remind us the extra cost government imposes on us through regulation, says Iain Murray, a senior fellow at the Competitive Enterprise Institute. Regulations cost $1.75 trillion in compliance costs, according to the Small Business Administration. That’s greater than the record federal budget deficit — projected at $1.48 trillion for FY 2011 — and greater even than all corporate pretax profits. According to a survey of the cost and compliance burden imposed by federal regulations: The Federal Register stands at an all-time record-high 81,405 pages. In 2010, federal agencies issued 3,573 final rules. Of the 4,225 rules now in the regulatory pipeline, 224 are “economically significant” meaning they wield at least $100 million in economic impact — this is an increase of 22 percent over 2009's 184 rules. Given 2010's government spending (outlays) of $3.456 trillion, the regulatory “hidden tax” of $1.75 trillion stands at an unprecedented 50.7 percent of the level of federal spending itself. Regulatory costs dwarf corporate income taxes of $157 billion. Regulatory costs are nearly double the level of estimated 2010 individual income taxes ($936 billion). Regulatory costs of $1.75 trillion absorb 11.9 percent of the U.S. gross domestic product (GDP), estimated at $14.649 trillion in 2010. Combining regulatory costs with federal FY 2010 outlays of $3.456 trillion reveals a federal government whose share of the entire economy now reaches 35.5 percent. Source: Iain Murray, “There Is No ‘Regulation Day’ to Remind Us How Much They Cost,” National Review, April 18, 2011. Wayne Crews, “Ten Thousand Commandments: An Annual Snapshot of the Federal Regulatory State,” Competitive Enterprise Institute, April 15, 2011. Above article made available by the National Center for Policy Analysis For text: nationalreview.com;