Sunday, July 24, 2011

Three Months of Soaking the Rich

Forget trickle-down economics, it’s time for a tax-hike tsunami! As JFK liked to say when hawking government spending, “a rising tide lifts all the boats.” Stupid Reaganomics treat individual citizens as “boats,” which is wrong and probably racist. Senator Sherrod Brown (D-OH) has a Progressive’s grasp of economics: Washington is blameless, corporations are evil, and bureaucrats need more money to adjust the level of all boats appropriately.

Though Sherrod – like President Obama – isn’t specific about his assuredly non-socialist methodology, what if we used the class-warrior’s dream scenario of doubled corporate income taxes and fully “reclaimed” CEO pay? Starting with just the 2011 deficit of $1.62 trillion, how fast could we balance the budget with a little extra from the kings of the S&P 500 index?

Pictured above: the 2011 deficit bucket, and the 5.783% drop that would result from dramatically increasing taxes on twenty-four of America’s largest employers (view source workbook). That’s a reduction from $1,620,000,000,000 to $1,526,319,144,240. Even if soaking a few hundred more corporations could cover the remaining 94.217%, would it be worth it?

Of course it would! As any Progressive will tell you, raising taxes on The Rich has no negative effects. Among the things that won’t happen if Sherrod Brown and President Obama tax their way to the chart above:

  • None of the corporations’ 5,037,561 employees will lose their jobs.
  • None of the corporations’ products or services – health insurance, prescription drugs, medical devices, food at supermarkets & restaurants, gasoline, business & consumer lending, construction equipment, air travel, shipping, cell phone service, broadband access, fast food, the thousands of items available at & Wal-Mart, toothpaste, diapers, detergent, baby soap, Band-Aids, movies, television, newspapers, computer software, iPods, laptops, servers, networking equipment, etc. – will get more expensive.
  • None of the funds or individuals holding the corporations’ 63,350,800,000 shares of stock will be ruined… unless they deserve it!
  • None of the world’s entrepreneurs or executives will stop investing in American businesses.

It’s a good thing raising taxes is an all-around win… otherwise, Ohioans would need to start looking for a senator with more sense than Sherrod Brown!

Follow me on Twitter: @jasonahart

Cross-posted at that hero.


  1. Still havent heard what YOUR alternative is Jason. The status quo doesnt work...

  2. Anonymous: MY alternative is the "Path to Prosperity" budget plan authored by Paul Ryan. Heard of it? It was passed by the House of Representatives - the half of the U.S. legislature that's bothered to create a budget in the past two years.

  3. Good answer Jason!!!

    The left's "what's your plan" nonsense is just the return of the son of the chicken hawk argument. It relies on Alinsky's dictum that conflicts should be personalized. And it is a ham handed way to change the subject.

    This is our chance, maybe our last chance, to get the left on the ropes and deliver a knock out blow. I surely hope we take it.

  4. One, I never identified myself as being on the left.

    Two, Ryans plan is a pipe dream that only works on paper, not in reality.

  5. So what, if you parrot the leftie style it is more than fair to conclude that you are a leftie.

    If you don't like that I suggest you call you mamma to pick you up. The left has been playing hardball for years. Now we're in the game. Best get used to it.

    Finally on what basis do you make an assumption that Ryan's plan won't work? It seems to me that you're using yet another favored leftie rhetorical tactic: It is so because I say it is so.

    Produce some support for your assertion or withdraw it.

    And where's the Democrats plan? How many more days before we get a budget from the Democrats in the Senate? What's the left afraid of?

  6. Anonymous The First: What Anonymous II said... in which sense in Ryan's plan a pipe dream? On what basis is any Democrat alternative superior, in any respect?

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  8. "One, I never identified myself as being on the left."

    Well if you quack like a duck and walk like a duck....

    "Two, Ryans plan is a pipe dream that only works on paper, not in reality."

    Now THAT is an INTELLECTUAL tour de force if I ever saw one...


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