With all the public union things going on the question has come up about why we should be attacking the public unions rather than just taxing the citizens of Wisconsin more? It is my belief that America is broke and that we have a serious spending problem not a shortfall in taxing. You can only tax people so much before they no longer have any money to build businesses and hire people.
In Madison Michael Moore said that America is not broke and there is more than enough money in the country. Is that true? Do we have more than enough money in the US? I clearly don't agree with that statement but it is hard to grasp without a concrete example. Below is a video that I think highlights why we cannot simply tax the rich in order to fix our financial problems.
The first 1:50 of this video gives a little background sort of like I did above but the rest of the video gets into the actual analysis. It is very interesting and I would love to hear what people think about it and how the left proposes to cover the $3.6 trillion we are going to spend in 2011.
An important piece to remember with this video is that most of the money to cover the $3.6 trillion was generated through one-time liquidation efforts. That money will not be there to do the same thing in 2012. We have a problem... This country is going to be BROKE before we know it. If we don't significantly cut government spending the freedom and prosperity that we have enjoyed as a nation will no longer exist.
Am I blowing this out of proportion? I hope so! Please tell me what we're missing!
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