Here we go. Obama’s budget: From Hot Air – $3.6 trillion dollars divided by 139 million taxpayers is $25,573.48 each. In 2010. This is if all taxpayers pay an equal share in the incredible debt Obama is inflicting on us. A breakdown of some of this is here.
Do you really think that the increased taxes are only going to be on people making more than $250,000 a year? Those taxpayers amount to only 2% of all taxpayers, according to factcheck.org.
2% of 139 million is 2,780,000 taxpayers. So something less than 3 million taxpayers, if Obama keeps his promises, are going to pay for the massive increases in spending. The rest of us, of course, will still be paying at about the level we are now.
Just pulling a number out of the air, say about $2.5 trillion of that $3.6 trillion is the NEW taxes that will be borne entirely by that 2% if Obama keeps his promises. So $2.5 trillion divided by 3 million equals a tax burden of $833,333 per taxpayer (who makes over 250,000 a year).
Obviously, this is NOT going to happen. We are ALL going to get a chunk of this. A big chunk.
I have ignored corporate taxes here. This is because corporate taxes are passed on to the consumer. Ultimately, ALL tax burden is born by the taxpayer or the consumer, directly or indirectly, because businesses protect their bottom line – otherwise, what’s the point of being in business?
I guess what I’m really saying here is that Obama’s numbers don’t add up. These numbers are so huge that I, for one, will not live long enough to pay them back.
This is, no fooling, a serious issue. There is a serious budgetary crisis going on, true; but the Democrats are having a spending frenzy in congress, led by Obama, without regard to the consequences. We think we have a financial problem now; wait a couple of years until the bill comes due.
Writing hot checks is not a viable way to solve economic problems. Not for a family, not for a government. The Democrats are writing a lot of hot checks.
Something is going to break. I just pray to God that our country survives the experience. In a recognizable form.