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9/16/2019 10:09:13 PM
Posted: 1/5/2012 6:19:41 AM EDT
[Last Edit: 1/5/2012 6:20:41 AM EDT by FRIZ]

… According to IRS data from before the recession, when we had the most rich people with the most income, there were about 321,000 households with income greater than $1 million, and they had aggregate taxable income of about $1 trillion. That's a lot of money, but it wouldn't balance the budget even if the government confiscated every penny—and if it did, how much income do you suppose would be available in year two?...

The Wall Street Journal
JANUARY 4, 2012
Will Republicans Hand the Left a VAT Victory?
By DANIEL J. MITCHELL
http://online.wsj.com/article/SB10001424052970203462304577134593785891220.html?KEYWORDS=daniel+j+mitchell
Link Posted: 1/5/2012 6:37:11 AM EDT
Good read...
Link Posted: 1/5/2012 6:58:51 AM EDT
Very interesting read, thanks.
Link Posted: 1/5/2012 7:09:28 AM EDT
I'm okay with a VAT tax because as soon as they pass it they will recind the sixteenth amendment.
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