Video: Taxing Rich at 100% won't Cover this Year's Deficit

Barack Obama is one of two things. He is either incredibly devoid of intelligence when it comes to economics or he wants to destroy the American economy and is deceiving people into believing a lie. The mantra coming from the Democrats - and led by Barack Obama - is that the way to cure our debt and deficit problems is to 'tax the rich.' Rep. Tim Scott (R-SC) puts it into perspective here. Remember, Obama's standard for 'rich' is anyone making $250,000 per year. Scott puts forth the idea of taxing everyone who makes more thatn $100,000 per year at 100%.

The results still don't add up. If you needed further evidence that Washington has a spending problem and not a revenue problem, this should be the final nail in the proverbial coffin.

Via CNS News.



If that didn't do it for you, take a look at the ignorance of Rep. Eddie Bernice Johnson (D-TX), who says we need 'vision' while advocating taxing the rich because we need 'revenue.'