All statists want much bigger government, but not all of them are honest about how to finance a Greek-sized welfare state.
The President, for instance, wants us to believe that the rich are some sort of fiscal pinata, capable of generating endless amounts of tax revenue.
Using IRS tax data, I’ve shown that this is a very inaccurate assumption. And I’ve also used IRS data to show the President that there are big Laffer-Curve effects when you try to rape and pillage high-income Americans.
Heck, even the Europeans have realized that you can only squeeze so much blood from that stone.
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for July 24th, 2014 | John Ransom