You guys are simply CLUELESS!!!!!!
If my analysis is right....a major world conflict could break out before you ever find out.....oh well...cest le vie.
America's Governments employ over 21,000,000 people at all levels......government collectively spends about $6.5 Trillion dollars or half of our GDP......WITHOUT GOVERNMENT SPENDING.......OUR GDP EVAPORATES!!!!! (table the savings to taxpayers for a second).
America Inc. generates revenues primarily throgh various forms of taxes....the number one generating area is individual and corporate income taxes.......
And as we all know.....revenues to America's corporations are shrinking.....but even more incredible is the contracting earnings of America's business....the EARNINGS to the S&P 500 are down 90%.......and factoring NOL carrybacks.....the corporate receipts to government could be DOWN even MORE!!!!!!!
In addition, the top 50% of middle and higher income earners pay the VAST MAJORITY OF TAXES IN AMERICA......this is not a fairness issue....simply one of gross dollars and the facts are indisputable.....the top half of Americans pay practially almost ALL of the taxes....especially if you factor in corporations paying taxes.
AGAIN...SAVE THE FAIRNESS ISSUE FOR LATER!!!!!!!
The problem now is that the corporations that were paying lots of taxes and the middle and upper class of Americans are simply paying a small fraction of the taxes they used to........NEVER IN AMERICAN HISTORY HAS TAX REVENUES CONTRACTED SO DRAMTICALLY AT A TIME WHEN GOVERNMENT WAS SO LARGE!!!!!!!!!!!!!!!!!!
Again, this is not a fairness issue.....it is simply a fact. Now government needs to come up with about $3 Trillion dollars simply to maintain current levels of expenses.
$3 Trillion Dollars is an incredibly LARGE NUMBER that there is no historical precedent to compare.....it is 2x the total of all American Debt that China has accumulated over the past 100 years.
It is about $80,000 per family for the top half of America. The problem is that over the past year.....about 25,000 million Americans have lost their jobs are forced to work part time when they need to work full time....ostensibly the vast majority of these people are no longer paying income taxes and many of them have become liabilities on government....
Let's illustrate this for a second but not for the purpose of mathematical accuracy.......if we assume America is about 300,000,000 million people......and about 150,000,000 constitute the top half of income earners and 150,000,000 the bottom half......through job losses and part time migration than we have moved we have moved 25,000,000 from from the top half into the bottom half(again simply for illustrative purposes....because there are many who would not qualify and many self employed people who have also migrated or suffered HUGE wage losses that are not counted..it all balances out in the end with my analysis likely being conservative for illustrating the issue).....now we would have 175,000,000 on the bottom and only 125,000,000 on the top.......a smaller top is supporting a much larger bottom.
Trust me on this one....the income to the top half of America is evaporating as is evidenced by a 44% decrease in income tax receipts.
AMERICA IS OUT OF MONEY.....AND IT DOES NOT HAVE THE RESOURCES TO GENERATE THE FUNDS.....AND NIETHER DOES THE WORLD.
At this point, Obama basically has two choices....tax the top 50% of Americans 100% of their incomes......or impose draconian cuts on government spending. IF THE RICH AND MIDDLE CLASS ARE NOT EARNING MONEY.....America is not generating revenues!!!!!!
and there are 21,000,000 Americans who work for the government depending on those revenues plus countless others....especially in health care and defense that also depend on government spending....plus another 175,000,0000 to 200,000,000 that depend on entitlements or are in the bottom half.
AT THIS POINT EXPECT MAJOR CHANGE.....100% TAX ON THE TOP 50% OF INCOME EARNERS...RICH AND MIDDLE CLASS......OR HUGE CUTS TO GOVERNMENT SPENDING DRIVING OUR COUNRY INTO A MASSIVE DEPRESSION....
or of course the most likely outcome......PREPARE FOR WAR!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! and a war like you have never seen before........which makes our current economic issues non relevant.
How hard is it to see that without the middle class and rich paying taxes....government can't spend and if government can't spend....21,000,000 well paid government workers can't make an income and tens of millions of health care, defense, and those that service the bottom half of the population will see their incomes evaporate.......
Yes....my friends....we hit the iceberg when Alstry started blogging.....now the only question is when will we all be swimming or when will the war break out......it is as simple or complex as that.