Tax The Rich Only Works If Government TAKES IT ALL

Our nation's socialists have finally run out of other people's money. But it looks like they're in denial about it. Billionaire Warren Buffett's idea to tax the rich more and more was, of course, seized upon by Democrats as proof that billionaires are more then wiling to finance our nation's out of control spending.  But once again, it's been proven that no amount of "tax the rich" can solve our debt problems-- unless the government TAKES ALL THE MONEY!!

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