So congress went ahead and passed the 3.5 trillion dollar Obama budget. Ok anybody feel stimulated? Gm doesn't, Crysler doesn't, many banks are looking for more, I'm having a ball on my 13.00 extra a week. How much are we going to have to give in taxes to support these coming budget deficits?
Last week it was revealed that Bill Gates is once again the king, owning $40,000,000,000.00 of wealth making him the richest man in the world. Now, they are projecting 9 trillion dollars in deficit. So if you took all of Gates' money ( face it the left dosen't think we need to have that much in one mans hands) to help pay off what we owe, he would cover .44 % of the total. Where oh where shall we get the rest?
In 2006 corporate taxes accounted for 24.3 %, taxes on production and imports 6.4 %, taxes from the rest of the world .8 %..........that leaves you and me holding the bag for 68.5% of the monies needed.
http://politicalcalculations.blogspot.com/2008/05/how-much-does-us-rely-on-personal.html
Get your check books out folks that means we owe $6,165,000,000,000.00 of the coming deficit.
According to the Tax Foundation in 2006 41% of Americans are out side the federal tax system, meaning they either pay no taxes or get extra money back.
http://www.taxfoundation.org/research/show/1410.html
Well that means that the rest of you, cause I don't make any money, owe about $37,282.00 each, that is every man, woman and child. If you would all just forward a check or credit card number we can take care of this and we will all move on.
Of course after the passing of this budget, that no one read, this economy now belong to the Big O. There is no denying it now, Bush has left the building and what Obama does and asks for makes this economy his and his presidency rises or falls on what he and the Congress does.
Did he inherit a bad economy? Every president inherits the economy of his predecessor and the Congress that helps form the policies. For the last 2 years the Congress was held by the Democrats and Obama was a part of that Congress. They controlled the purse strings and the ability to say no to any spending the administration proposed. I think there is plenty of blame to go around for the past. The future?....... where to place the blame is becoming clearer all the time.
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“Remember that a government big enough to give you everything you want is also big enough to take away everything you have."--Barry Goldwater
If we give the government the power to confiscate our arms we also give up the ultimate means to combat that corrupt power. In doing so we can only assure that we will eventually be totally subject to it.” —Ronald Reagan
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