Tax the 1%!

There are about 8 million people in the United States that make more than a million dollars per year.  Their average pay is around $5 million.  What does one need with that much money?  Our deficit is $1 Trillion per year.  We need to tax the rich to pay down that deficit.  How else can we survive as a nation?  We cannot let people starve, our old people need security, our kids need a balanced diet and an education.  We need to protect ourselves with a military second to none.  So why not take all that excess income from the filthy wealthy?  It's only fair.

Or is it?  If you do the math on the above numbers, it works out to 40 trillion dollars.  Our government spend over $6 trillion per year.  Our debt is is almost $16 trillion.  Those 2 numbers are about $22 trillion.  Now, how much is a fair amount of pay?  $80,000?  Take that times the 8 million is just shy of a trillion dollars.  So is it fair that we take $39 trillion in taxes?  Now let's subtract the $22 million and we have $17 trillion left over, a good start for next year!

But wait, let's think for a minute.  Think of your own situation.  Let's say you make $50,000 a year after taxes.  Do you earn enough?  Most people would say no.  Now, lets assume your rich.  The government comes to you and says give us 99% of your income.  What would your reaction be?  Sure why not, or like hell I will?  If they did, would it not be better that you just stop working?  Why work, when you would not be able to afford a house, or food? 

So now, if you were making the $5 million, wouldn't your reaction be similar?  What's the chance that you would try to make more, when all you will get is $80,000?  So within a couple years there will be no one making $5 million a year.  Then what do we do?  How will we fund our government?  Will the world come crashing down?

So half of our current budget would be available in year 2 and by year 3 the IRS would be collecting very little.  Deficits will soar, budget cuts would be inevitable.  Deep cuts to Social Security, Education, Military spending, and any other program.  Our country will collapse.

A few years ago, our Congress decided to tax yachts, only the rich have yachts right?  How does that hurt you and me?  Frankly it hurt us worse.  You see someone has to build the yachts (people like us) some one has to sell the yacht.  Some one has to transport the yacht.  And all these people saw layoffs as the 'rich' didn't buy over priced yachts.  So they had their money, we didn't.  High tax rates hurts employment, it weakens demand in the overall economy.  Well except maybe around Washington, DC where the economy has never been better.  The housing market there is appreciating.  Investments are traded on inside information, and everyone is smiling.

The United States is still mainly Christian.  Almost 80% of us are Christian.  Perhaps we need a Christian tax rate.  Most Churches expect 10% of income in donations.  If God can live on 10%, why can our politicians?