Monday, September 19, 2011

A better way to raise revenue?

Republicans claim that restoring tax rates on the rich will raise "only" 800 billion dollars, complaining that half of Americans don't pay any taxes at all.

Good point.  Maybe we could raise $800 billion from the poorest Americans!  After all, there aren't that many millionaires, but there are millions of poor people!

Well, as it turns out the total wealth of the bottom 50% is about 1.6 trillion dollars.  So we could pull it off ... if we simply confiscated half of everything they own.

Given the Republicans' rhetoric lately, I wouldn't be surprised to hear them say that's perfectly fair.  Serves the poor right for being poor, doesn't it?