Thursday, November 29, 2012

CHART: The Financial Impact of Raising Taxes on "the Rich"

I created this chart to put the "fiscal cliff" discussion in perspective.

The overall pie represents total federal outlays since Barack Obama took office, including next year, which is the subject of all the hullabaloo.

The red represents the amount of debt -- borrowing, which must be repaid along with interest -- that the federal leviathan has rung up on our children's behalf.

And that tiny green sliver? That represents the impact of allowing the Bush tax cuts to expire for the top two tax brackets, er, I mean: "The Rich".

Those additional taxes mean nothing to the yawning chasm of debt. It's a spit in the bucket. Bupkis.

So, where are your spending cuts, Mr. President?


Erick Brockway said...

If I squint REAL hard, I can alomst see the green

Matthew W said...

The Republicans need to dumb this issue down to the moron level (ie, Obama voters) and explain 24 hours a day that IT'S THE SPENDING STUPID !!!

Wanda said...

Too bad O'scummer isn't handing out copies of this informative, simple chart to the useful idiots and clueless masses who worship his self loving bum while he jets around the country propagandizing them with his microcosmic Nazi lies about how unfair it is for the rich not to pay a little more!

RINOS should stop negotiating with the Commie-czars and walk away. All Boehner has to do is defund Obama's agenda. Repubs have the leverage in the House...They cave to Obama this time, they will be finding out what a pink slip looks like next time they are up for re-election.

Great find Doug!

K-Bob said...

Hey, taxing the rich always works.

If you want them all to leave.