We’re Saved!
March 21st, 2012 - 9:49 am
Good news, folks — that Buffett Plan you’ve heard so much about? The one that would tax the bejeebus out of rich people? Well, get this: The Buffett plan would raise nearly $3 billion in additional revenue the very first year. That’s nearly one-third of one percent of this year’s deficit!
Time to party like it’s 1999.
Its what the Federal Government spends in 4 hours.
In 1999 partying was tempered by fear of impending disaster. With or without the Buffett plan, given your earlier post that the boldest plan to control the deficit is not bold enough, Partying like it’s 1999 is entirely appropriate, maybe moreso, because Y2K turned out to be a fake disaster, the impending debt crisis seems much more real
It’s never been about the money. Even the president has admitted that in a moment of candor. It’s about the unfairness of one person having more money than another, and the need to punish anyone we catch in posession of money that belongs to everybody equally.
BTW, That’s basically what really ticks me off about the sad state of public debate – they have *admitted frequently* that their thinking is based on Marxist/Envy thinking but every time someone mentions this they get slapped down with “I can’t believe you are calling Obama a marxist, you evil name-caller who doesn’t know anything about marxism”. Yes we do. It’s pretty simple – if you believe that unequal distribution of wealth is the well-spring of all evil in society and that the government should therefore be granted the power to fix that by force, I don’t care what you call it. It is an evil philosophy and it has produced nothing but totalitarianism, misery and mass death. Go away, you marxists (or whatever you want to call yourselves) and ruin someone else’s country!
AND…. That $3 billion assumes no change in behavior based on the implementation of a new tax.
Expect actual revenues to be notably less.
Yeah, back in September I came up with “the Clinton Rule of Thumb.”
That, of course, assumes a booming economy like we enjoyed in ’94.