Under the Obama tax plan, the Bush rates would be repealed for the top brackets. Yet the "cost" of extending all the Bush rates in 2011 over 10 years was about $3.7 trillion. Some $3 trillion of that was for everything but the top brackets—and Mr. Obama says he wants to extend those rates forever. According to Internal Revenue Service data, the entire taxable income of everyone earning over $100,000 in 2008 was about $1.582 trillion. Even if all these Americans—most of whom are far from wealthy—were taxed at 100%, it wouldn't cover Mr. Obama's deficit for this year.
I still maintain we will not survive until 2012...Ugh.
Next time your local property taxes go up or the school board says they "they need it for the children", start asking who is getting what........ It might be going to folks like this.
He may have done a hell of a job as a superintendent, but like Obummer says, when is enough enough?
