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Thursday, August 18, 2011

Rich decline, and so do revenues. Good job, guys!

The left is absolutely FIXATED on "the rich" and driven by a horror that they may not pay their "fair share." They are so obsessed with this fixation that they are willing to pay massive amounts of tax increases themselves if only they can soak the rich. Well, it is happening.

The chart below, from the IRS 2011 data, shows that the number of rich ARE declining. However, that leads to the inescapable link that the amount of taxes paid into the system by the rich (those with $200,000 or more a year in income) is also declining. Since that accounts for 70%+ of tax revenues, that means that LESS MONEY IS GOING INTO THE TREASURY. The numbers are inescapable. The darling social projects of the left are simply going to vanish, as the "rich" simply take their money off the table and there is not enough revenue to fund them.

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