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A great example of why we need to think before we speak!
The 1 Percent Solution - Why Not Just Soak the Rich? By Daniel McGroarty, former White House Speechwriter.
"First, the philosophy behind my policy, drawn from careful consideration of the debate to date: For any plan to work, we need a federal tax policy that’s simple, fair, and this is key–to the maximum extent possibile, involves someone else’s money.
With that in mind, we go where the money is: America’s billionaires. Under my plan, billionaires aren’t gust going to pay more, they’re going to pay it all. A 100 percent tax rate. And not just on what they make in a year–100 percent of their lifetime net worth.
As for the “99 percent, relax. We’re cutting your 2012 rate to 0 percent. That’s right: You’re going to live like you’re a hedge fund manager on the Gingrich plan.”
. . . “Let’s get started. The Obama administration has requested $3.7 trillion in federal spending for 2012. Conveniently, that’s a bit above $10 billion a day. Fittingly, Bill Gates leads us off with his $59 billion. Microsoft’s founder could pay from the moment we rang him in 2012 to almost midnight January 6. Up next, Warren Buffet, whose $39 billion will get us to Jan 10, followed by Larry Ellison, the Koch brothers, the four Walmart heirs, George Soros (Obama’s friend), Sheldon Adelson (Newt’s friend).”
“Forbes top billionaires total nearly $310 billion. It’t now Jan 31. Forbes’ No. 11 to 99, and they carry us through February and March. Then the remaining 390 billionaires carry us to mid-May, but by then the federal burn rate reaches $10 billion dollars per day. Somewhere on the afternoon of May 26, we’ve run through our last billionaire. All together, the lifetime earnings of the Forbes 400 have pain for more than $1.4 trillion. We’re still short $2,219,999,999.999.99 and Jan 1. 2013.
So on to the millionaires. We’ve got more of them–but it takes 1,000 millionaires to equal one billionaire.”
“IRS data tells us that in 2009, 236,000 Americans made $1million or more. All told, at our 100 percent rate, that $610 billion–another two months of federal spending. But there are still five months left to fund. Let’s move from the people who earn $1 million a year to the people who have more than a million in net worth. They’re millionaires too, right.
After we’ve taken away all that wealth and fed it to the U.S. Treasury, what’s the take away from all of this? For one thing, $3.7 trillion is an enormous amount of money–far more than our mortal minds can comprehend.
But back to the budget. It’s 2013, and not a billionaire {or millionaire}in sight. Wait a minute: Where’s that 99 percent? Please step forward. Your turn.”
The 1 Percent Solution - Why Not Just Soak the Rich? By Daniel McGroarty, former White House Speechwriter.
"First, the philosophy behind my policy, drawn from careful consideration of the debate to date: For any plan to work, we need a federal tax policy that’s simple, fair, and this is key–to the maximum extent possibile, involves someone else’s money.
With that in mind, we go where the money is: America’s billionaires. Under my plan, billionaires aren’t gust going to pay more, they’re going to pay it all. A 100 percent tax rate. And not just on what they make in a year–100 percent of their lifetime net worth.
As for the “99 percent, relax. We’re cutting your 2012 rate to 0 percent. That’s right: You’re going to live like you’re a hedge fund manager on the Gingrich plan.”
. . . “Let’s get started. The Obama administration has requested $3.7 trillion in federal spending for 2012. Conveniently, that’s a bit above $10 billion a day. Fittingly, Bill Gates leads us off with his $59 billion. Microsoft’s founder could pay from the moment we rang him in 2012 to almost midnight January 6. Up next, Warren Buffet, whose $39 billion will get us to Jan 10, followed by Larry Ellison, the Koch brothers, the four Walmart heirs, George Soros (Obama’s friend), Sheldon Adelson (Newt’s friend).”
“Forbes top billionaires total nearly $310 billion. It’t now Jan 31. Forbes’ No. 11 to 99, and they carry us through February and March. Then the remaining 390 billionaires carry us to mid-May, but by then the federal burn rate reaches $10 billion dollars per day. Somewhere on the afternoon of May 26, we’ve run through our last billionaire. All together, the lifetime earnings of the Forbes 400 have pain for more than $1.4 trillion. We’re still short $2,219,999,999.999.99 and Jan 1. 2013.
So on to the millionaires. We’ve got more of them–but it takes 1,000 millionaires to equal one billionaire.”
“IRS data tells us that in 2009, 236,000 Americans made $1million or more. All told, at our 100 percent rate, that $610 billion–another two months of federal spending. But there are still five months left to fund. Let’s move from the people who earn $1 million a year to the people who have more than a million in net worth. They’re millionaires too, right.
After we’ve taken away all that wealth and fed it to the U.S. Treasury, what’s the take away from all of this? For one thing, $3.7 trillion is an enormous amount of money–far more than our mortal minds can comprehend.
But back to the budget. It’s 2013, and not a billionaire {or millionaire}in sight. Wait a minute: Where’s that 99 percent? Please step forward. Your turn.”
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