Scott,
Did you know that to maintain our current spending trajectory and to keep our entitlements as they are the middle to upper middle class would have to pay 60-85% income tax rates (source: IMF). That the entitlement programs which the democrats created during the New Deal and the Great Society (which have expanded ever since their creation) have a ***$211 trillion*** unfunded liability!!!
Did you know we could eliminate ALL discretionary spending right now and we would still need to borrow. We could eliminate the ENTIRE military and we would still need to borrow. In about 20 years we could eliminate both -the ENTIRE military and ALL discretionary- that is to say the ENTIRE federal government and we still couldn't pay the entitlements?
That we could confiscate all income, assets, savings, property -everything- of all people making over $100,000 per year and we STILL couldn't pay the entitlements? We still couldn't pay the HUNDREDS of MILLIONS of people deemed by our federal government to be entitled to millions of dollars of free lifetime benefits? And if we did such a confiscation it would be ***ONE TIME ONLY*** and the economy would completely collapse into something like North Korea or Cuba with almost zero economic activity replete with mass famine and repression?
Then the far-left fundamentalist extremists would finally have satisfied their radical obsession of single party iron fisted rule (to save life on this planet as we know it, of course) and we all skip off into the sunset holding hands singing kum baye ya with no one person having a single penny more than the other. Except for the socialist vanguard overseeing and managing the utopia right here on earth, of course.
CB
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