You all realize that you cannot possibly 'tax the millionaires' enough to make any real difference in the deficit - right?
There aren't enough of them, and they, as a group, don't make enough money.
10,000 Americans have a median annual income of $50,000,000 with an average of $350,000,000 in assets which represents an increase of 550% since 1978.
"...(t)he 10,000 paid just $112Bn in taxes last year thats just over
20% of their income, while the rest of the country, of course, paid a much higher percentage of their income to make up for the shortfall.
"Warren Buffett, the third richest man in the world (behind Gates and Slim) paid 17.7% tax and made a point of checking and found out his employees paid an average of 32.9%.
"God bless Buffett becuase he made this point in a speech that was given to 400 of the 10,000, who were gathered at a Hillary Clinton fund raiser in 2007.
"It got a little attention at the time but then was swept under the rug as if that didnt matter. But it DOES MATTER and it matters a lot the life of this country depends on it!
"
If this were just a case of 10,000 people not paying $100Bn in taxes, maybe we could move on and forget it but its not.
"US corporations, who are (according to to the Supreme Court) also citizens of this country, paid just $300Bn in taxes last year on $6 TRILLION in income (5%). Thats right, if
US corporations simply paid the same amount of tax as Mr. Buffett that would, by itself, be enough to
wipe out our deficit..."
Do you think another $100 billion in revenue every year would make any real difference in the deficit?