Buffett's New York Times Op-Ed said "it was time to "stop coddling the wealthy" and urged Congress to raise taxes on millionaires. Sounds great, doesn't it? Except for one little problem. According to a study by the Tax Foundation,
"...calculations indicate that taxing these individuals at an effective rate of 100 percent would only net the government $186 billion, reducing the deficit by 12 percent and the debt by an additional 2 percent. In fact, the only way for the government to solve its fiscal issues with revenue would be to confiscate every single dollar from every single American making $200,000 or more per year, the study said."
Every single dollar. Every. Single. Dollar. Our nation's socialists have finally run out of other people's money