November 26, 2012

[Mark Steyn is filling in for Rush today] On the impossibility of making meaningful progress on paying off the national debt by “soaking the rich”…

If you took every single penny that Warren Buffett has, it'd pay for 4-1/2 days of the US government. This tax-the-rich won't work. The problem here is the government is way bigger than even the capacity of the rich to sustain it. The Buffett Rule would raise $3.2 billion a year, and take 514 years just to pay off Obama's 2011 budget deficit.

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