Can The Rich Afford Obama’s Fair Share?

Since President Obama wants you to believe that the wealthy paying a “fair share” is the key to balancing the budget and funding all his big government dreams, here’s a what-if exercise that puts his demagoguery in perspective.

What if the government could simply seize all the wealth of the nine richest people in America?  Not just all their income, what if the government took every share of stock, every mansion, every factory, every office building, every retail building, all of it?  Of course without their assets they would no longer have any income to tax, so the government could do this only once.

Bloomberg News just began publishing its Daily Billionaires Index, listing the value of assets owned by the world’s 20 richest people.  Nine are Americans.  Their total wealth is about $309 billion.  How does that compare to the US government’s financials?  It’s enough to cover all government spending for exactly one month.

A century of social engineering based on the ideas of so-called progressives has turned America into a dysfunctional welfare state, ensnared in a web of debt and unfunded, unsustainable obligations.  That our President offers a tax increase on the rich as the solution demonstrates that either he is stupid or he thinks we are.Assets of the nine Richest Americans Compared to Federal Spending

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