TAX THE RICH...THAT WILL PAY OFF THE DEBT.....

TAX THE RICH...THAT WILL PAY OFF THE DEBT.....

How long would it take to pay off 16 Trillion Dollars....

If we froze spending exactly where it is now, we would never pay it off, because we are spending over  1 Trillion more than we take in.  We currently spend 3.5 Trillion but only take in about 2.4 Trillion.  

OK, let's say we cut 1 Trillion in spending, we still would never pay off the debt.....

Alright, let's cut spending by 1 trillion and tax everybody making over 250K at 100%...Now we are getting somewhere, let's see,....

Current Revenue              2.4 Trillion              

Take 100% of 250K       1.2 Trillion

                                       3.6 Trillion in total revenue

Revenue                           3.6 Trillion

New spending after cuts   2.5 Trillion

                                        1.1 Trillion SURPLUS.....well all right now we're getting rid of the nasty debt!  Now it would only take about 16 years.

Ughhh...wait a minute.....if we took all the money from people that make over 250K this year, they would lose their houses, their cars, their businesses (which would cause people that earn less than 250K to lose their jobs)....so where would we get the 1.2 trillion from next year??? 

So now we are back to never paying off the debt....

OK.....let's do what Obama and the liberals want to do, get rid of all the (so called) Bush tax cuts. 

That would increase the Revenue by about  96 Billion a year.  That means  the revenue would be about 2.496 Trillion, from 2.4 Trillion.  But we are still spending 3.5 Trillion.  This will never pay off the debt either.   

Well, let's also cut 1 trillion in spending....Uhmmm, that will never pay off the debt either......

Wait a minute, so implementing the Obama tax increase and cutting spending by 1 trillion won't pay off the debt either????

Well Obama says he will increase revenue from everybody with his programs.  Well he hasn't done it yet.  Now he did have about 200 Billion increase in revenue in the last year or so, but spending outpaced that increase in revenue.  So what make me think he can do it in the next  4 years.

Here is the problem.....IT'S A SPENDING PROBLEM. THE GOVERNMENT SPENDS WAY TO MUCH MONEY....

That's what got us in this mess, and there is no easy way out especially if we are using Obama and these progressive ideas.

Realistically,  I will never see the debt paid off....My Kids will never see the debt paid off...My grandkids will never see the debt paid off.....

To pay it off in 100 years, you will need the US government to take in about 1.6 Billion dollars more than it spends, every year for 100 years.  In the last 72 years we have only had a surplus 14 times.  And of those 14 years, only 10 of those were more than 1.6 Billion.  And current projections for the next  5 years are DEFICITS of around 650 Billion EACH year.

Why do we keep putting these progressives in office....I believe it is their intent to take America down, and they are succeeding.  (Did you notice that Americas Credit Rating was lowered for the 2nd time in history...BOTH while Obama was President)  And if Obama and others that are like-minded get reelected, America will be finished.  Because they want to keep doing the same things that they have been doing the last 4 years.

Below is a chart of the government spending vs revenue since the 50's.  Notice the last 3 years....

 

 

WAKE UP AMERICA!