OK… I Think The Rich Can Pay More of Their Fair Share

Posted on April 6, 2011 by


A Parody Based On Real Numbers

by Thomas Shafer on Wednesday, April 6, 2011 at 11:29am

The 2011 US Federal Government budget is $3.7 Trillion

That’s $10.137 Billion per day

How to pay for it?

1.      Confiscate the global profits of Exxon and Walmart ($34 Billion). That will pay for the federal budget from 12am Jan 1st through 9:51am Jan 4th.

2.      Take all of the 2010 profit of the other 498 members of the Fortune 500 ($357 Billion). That pays through 2am February 9th.

3.      If we could, take all the money spent on the TV ads for 45 Super Bowls ($5 Billion). That covers government spending until 2pm February 9th.

4.      Take the combined salaries of all players in the NFL, Major League Baseball, the NBA, and the NHL. Throw in the total winnings of everybody on the PGA tour and NASCAR ($9.4 Billion). That pays through 1pm, February 10th.

5.      America’s “rich” – those with incomes greater than $250k/year. According to the IRS this constitutes 1.93% of US households. If every dollar they make above $250k is confiscated…

a.       Number of US households: 116,000,000

b.      Average US household income: $68,000 (median = $52,000)

c.       Total US household income (A * B): $7.89 trillion

d.      Percent of households above $250k income: 1.93%

e.       Number of households above $250k income (A*D): 2,238,800

f.       Percent of national income earned by households making $250k or more = 25%

g.      Total income of households making $250k or more (C*F): $1.97 trillion

h.      Total income of households in excess of $250k (G – E*$250,000) = $1.412 trillion

That would bring in $1.412 Trillion, and keep the federal government going until 6pm July 2nd.

6.      End all funding of the Iraq and Afghan wars. Total cost savings is $264 Billion. That keeps the government operating until 4am July 29th.

7.      Confiscate every penny of revenue generated by the Star Wars franchise since 1977, $25 Billion. Federal government continues operation until 4pm, August 1st.

8.      Evict everyone in Beverly Hills and sell their homes at current market value. 15,000 homes at $2 million per nets another $30 billion, paying the bills through 4pm, August 4th

9.      Increase the estate taxes to 50%. Warren Buffet and Bill Gates mysteriously die. This provides another $50 Billion from their combined $100 Billion fortunes. That will keep the federal government going until 4pm, August 9th.

10.  According to the latest Forbes 400 research, there are another 398 billionaires in the US, with a combined net worth of $1.29 Trillion. If they all died right now, that would net the federal government another $650 Billion, keeping government solvent until 4pm Oct 13th.

11.  That’s not enough. Take all of the net worth of the 398 billionaires in the US. Take all of the net worth of the next 100 almost-billionaires. That’s another $750 billion, giver or take. Government keeps operating until 4pm, December 25th.

12.  Demand that every man, woman and child in the US contribute $40 each. That gets the last $12.5 Billion to last until 11:59pm, December 31st.

Now… what to do about the 2012 budget??

Nota Bene: this does NOT cover state budgets

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