Bloomberg Could Have Given Each American $1 Million With Money He Spent
Wow.. just … … wow. I get that the person originally posting may have been drinking or just outraged. But Brian Williams, his producer, the editors, the camera man, teleprompter ANY ONE can you do basic math? Millions/Millions… 1 over 1 .. no one?
But the failure of talking heads and their sycophants not being able to do math is barely the point. But this elevates two very telling points. First, is that these people do not vet anything. Any excuse to attack someone they disagree with is fair game. Facts, verification and truth play no part. The second part is even more important.
The party of the left has no basic economic understanding of scale. This math was off by a factor of 1 Million. Not a factor of 2 or 3, even 10… a million. No business man, accountant, or their assistants have ever come close. So they can talk about a 70 Trillion dollar plan that will be covered by a “tax on the rich”. Elizabeth Warren can state that funding 40 Trillion dollars with a .02 cent tax on Billionaires and no one the left even blinks… the math is not even close.
Some time for some basic math… Bloomberg is a Billionaire; there are about 550 others like him with a total net worth of 2.5 Trillion dollars. 2.5 is less then 40, which is less than 70 (removing the zeros so as not to confuse MSNBC). Let us assume that the plan from these politicians are 10 years numbers (as most are). Even if you took every dollar from every billionaire (all of it, not .02 cents). You could not fund the first half of the first year of these plans. And then month 7 arrives, month 8, year 2, year 3 and you have NOTHING left to confiscate. The program is bankrupt. For the .02 cents Warren says you would need, you get far less than .2% (.00125) of the revenue you need (and that is on the cheap side)… only off by a factor of 500X.
But worse…this “Net worth” is not in cash. This is not annual income. It is a lifetime of work and it is in their companies; stock valuations. So you would have to sell off their entire private portion of their businesses. Sell it off to pay the federal government. Likely in violation of most of their employment contracts and public trading laws. So we collapse Amazon, Facebook, Bloomberg News, Apple, Trump International.. etc.etc… 500+ times to get 6 months of Socialism. Clueless or just dishonest?
So let us expand to all those “rich people.” Some basic math again for Mr Sanders plan… 70 Trillion over 10 years is “about” 7 trillion a year. Based on the most recent tax numbers released (2016) we would need to DOUBLE the tax burden of the top 25% of all tax payers (or 35 million households).
If that cuts too deep we can keep it to the top 5% [those 7 million rich folks]. 70 Trillion/7 million… 12 zeros/6 zeros.. Lots of carrying zeros here Brian… EQUALS 10 million dollars of new taxes.. 1 million a year in new taxes on each and every one of these families.
You see, the full tax burden of 100% (that means all) of the tax payers in this country is 10 Trillion annually. That is absolutely everything. So to increase spending for just one of these plans we are talking about massive tax increases on working families and the middle class. There is just not enough money in these deep pockets of a small number of “rich people” to ever cover these plans. But I think that is the point.. it is not about the price of the plan it is about a massive tax burden, a massive federal government and class envy. The numbers never need to work… right Brian?
Alternate option… they do so little work in media and people like Brian Williams make millions. So anyone can make millions. Anyone not making that kind of money on little talent and nice hair must be oppressed by the system. Cause the system is stupid easy.