No, I'm simply pointing out that we have historical-empirical data that shows raising CG rates will cause a reduction in revenue from the tax. I'm willing to go on record right now and say that IF the CG rates get raised, revenue from the tax will fall. That's not an opinion, it's historical fact.
Raising the CG rates is exactly what Obama wants to do. It WILL result in the reduction of revenue from the CG tax.
Good plan... Let's start with everyone in Hollywood, Congress, and the MSM.
Ok, read it... Let's look at some math.
$4 trillion over 10 years and he's including his tax hikes and budget cuts with that number. That's $400 billion a year in a perfect world.
Current deficits = $1.2 Trillion/yr
Proposed "savings" = $400 billion/yr
Remaining deficit = $800 billion/yr
Here's something for you to consider:
Among the 21 new spending proposals included in the Democratic Party platform are:
• $453 billion over ten years to fund an expansive stimulus-like job creation scheme;
• $18.4 billion over ten years to get the transportation sector to buy into alternative fuels:
• $6.5 billion over five years for global food security and agriculture research;
• $5 billion in one-time funding for clean energy handouts;
• $5 billion in one-time funding to force the government into the broadband Internet business;
• $980 million over ten years for government-funded abortions (if taxpayers' pay for 10 percent of abortions); and
• $45 million over five years to support American Indian and Alaska Native languages.
In total, the Democratic Party platform recommends $674.8 billion in additional federal spending over the next decade.
I highlighted the word "additional" because they're proposing to spend that on top of our current spending. Let's go back to the math...
Remaining deficit PLUS new spending = $867.48 billion/yr
And that number is entirely predicated on the spending cuts and additional revenue from tax hikes actually materializing. It's much more likely, statistically (based on historical evidence), that we'll see the already insane annual deficits dramatically grow during Obama's second term.
