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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (623429)	8/8/2011 11:53:18 AM
From: longnshort	Read Replies (1) \| Respond to of 1578550

it's obvious that the S & P is racist

To: tejek who wrote (623429)	8/8/2011 12:00:52 PM
From: TimF	Read Replies (2) \| Respond to of 1578550

IRS: Not enough rich to cover the deficit August 5, 2011 by Don Surber Soak the rich, eh? They do not have the money. A report from the Internal Revenue Service found that the rich — 8,274 people with incomes of $10 million per year or more — earned a total of $240 billion in 2009. Even of you confiscated every dime they earned, you would barely have enough money to cover government spending for 24 days. Of course, about a quarter of that money already goes to the federal government for federal income. So make that 18 days. Another 227,000 people earned $1 million or more in 2009. Millionaires averaged taxes of 24.4% of their income — up from 23.1% in 2008. They, too, did not earn enough money to come anywhere close to covering the annual deficits that are $1.5 trillion a year. Barack Obama was the first president to sign a budget with a $1 trillion deficit into law. In fact, all the taxpayers — including the ones who get a refund check bigger than the withholding taxes they paid — have the money. From Reuters: “Total adjusted gross income reported on tax returns, measured in 2009 dollars, was $7.626 trillion, down from $8.233 trillion in 2008 and $8.989 trillion in 2007. Total adjusted gross income was up only slightly from the $7.475 trillion reported in 2001, when there were 10 million fewer taxpayers. Adjusted gross income is the amount on the last line of the front page of a Form 1040 tax return.” Individual tax collections totaled $1,175,422,000,000 in 2009 — or 15.4% of all income. Doubling federal income taxes for everyone would still leave us $400 billion or so shy of balancing the budget. We must cut. We cannot afford to buy everything we want. blogs.dailymail.com