Feb. 26, 2009 - Pragmatists Don't Ignore Data
A tax policy that confiscated 100% of the taxable income of everyone in America earning over $500,000 in 2006 would only have given Congress an extra $1.3 trillion in revenue. That's less than half the 2006 federal budget of $2.7 trillion and looks tiny compared to the more than $4 trillion Congress will spend in fiscal 2010. (WSJ, 2/26/09)
Taxing the wealthy ain't gonna cut it. The whole WSJ piece, The 2% Illusion, here:
http://online.wsj.com/article/SB123561551065378405.html?mod=djemEditorialPage
And you didn't miss the $410 Billion supplemental on top of the $787 Billion spending bill, did you? I think Congress has approximately 9000 ear-marked reasons for hoping you're not paying too much attention.
http://online.wsj.com/article/SB123561629425978503.html
Bread and circuses continue.
Blessings, Holly
