Tax the Rich? Bill Whittle shows the Math!

[sailsmen]

http://www.youtube.com/watch_popup?v=JY8LKII_MNA&feature=youtube_gdata_player

[NXSBOB]

Good One. Kept waiting, but cure never came.

[sailsmen]

In round numbers.
Per the rating agencies an annual Deficit that exceeds 3% of the Economy cannot be paid back.
Economy ~$15Trillion
3% ~$450Billion
Annual Deficit ~$1.5Trillion
Annual Deficit Reduction to = ~3% of the Economy ~$1.05Trillion
Roll back the "Bush Tax Cuts" for those over $250K = ~$70Billion, leaving ~980Billion left to eliminate
Roll back the "Bush tax Cuts" for those who make less than $250K = ~$300Billion, leaving $680Billion left to eliminate
Cut the increases in Federal spending made in the last 3 years and the $680Billion is eliminated!
We can now pay back our annual Deficit. The next step is to pay off the Debt and the unfunded liablities.
From the White House;
Year Receipts Spending Annual Deficit
2004 1,880,114 2,292,841 -412,727
2005 2,153,611 2,471,957 -318,346
2006 2,406,869 2,655,050 -248,181
2007 2,567,985 2,728,686 -160,701
2008 2,523,991 2,982,544 -458,553
2009 2,104,989 3,517,677 -1,412,688
2010 2,162,724 3,456,213 -1,293,489
2011 estimate 2,173,700 3,818,819 -1,645,119