{"id":13044,"date":"2013-03-05T17:39:55","date_gmt":"2013-03-05T17:39:55","guid":{"rendered":""},"modified":"2013-03-05T17:39:55","modified_gmt":"2013-03-05T17:39:55","slug":"record_tax_revenue_not_enough_for_dems","status":"publish","type":"post","link":"https:\/\/www.rushlimbaugh.com\/daily\/2013\/03\/05\/record_tax_revenue_not_enough_for_dems\/","title":{"rendered":"Record Tax Revenue Not Enough for Dems"},"content":{"rendered":"

\"Listen<\/a><\/p>\n

RUSH: The Congressional Budget Office announced that the federal government is going to take in a record number of dollars via tax revenue this year. That record is $2.7 trillion. Now, there\u2019s two things about this. That $2.7 trillion in tax revenue, it\u2019s an all-time record — and who do you think is paying the majority of that $2.7 trillion when you understand that 48% of Americans are not paying any income tax?<\/p>\n

We\u2019ve had the information up on my website for years about the breakdown. The top 1% pays X; the top 5% pays X. Basically the top 10% of wage earners in this country are paying about 80% of all taxes. The top 5% are paying 40%. We\u2019ve got a record tax year for income tax, all tax revenue. So you can say we\u2019re not under-taxed when we\u2019re collecting more revenue via taxes than ever before in a down economy, folks!<\/p>\n

<\/p>\n

In a down economy with 8.5 million fewer jobs available since 2009 when Obama took office, unemployment is really at 14%. The labor force participation rate is practically at an all-time low. (It\u2019s close to what it was in the seventies with Jimmy Carter.) Even with all of this unemployment, even with the fact that about half the country pays no income tax, we still have a record year in tax revenue collected by the government. So we\u2019re not undertaxed.<\/p>\n

If there was ever any illusion that our budget problems are spending-side focused, this is it. Even with a record year of tax revenue, it\u2019s still not enough for Obama and the Democrats. They\u2019re still demanding more taxes. They now want a carbon tax. Obama\u2019s dangling a carrot out there. He says (summarized), “Well, you know, I might approve the Keystone pipeline, but I want a carbon tax.” Folks, a carbon tax is an energy tax.<\/p>\n

It is a tax on every bit of fuel that you use at every level of fuel production and distribution, from discovery to the consumer. It is a tax at every level. It is going to take even more disposable income out of the pockets of people. The government is going to get richer. The economy is gonna get smaller. Prosperity is going to shrink. Tax revenue will increase and exceed the record number of $2.7 trillion.<\/p>\n

Even with this record amount of tax revenue collected, we\u2019re gonna spend a $1 trillion more than that again this year. We\u2019re gonna spend $3.7 trillion after collecting $2.7 trillion, which means that we\u2019re gonna have another deficit of $1 trillion, which means the national debt will go from $16 trillion to $17 trillion (and actually more once interest and all is added in). Don\u2019t you think this might indicate that we have a spending problem?<\/p>\n

Don\u2019t you think this might indicate that the American people are taxed plenty? Don\u2019t you think it might indicate that the whole idea that there are some people not paying their “fair share” can be thrown out the window? No matter what the tax rate is and no matter what the amount of money collected is, Obama is still gonna run around and say, “We just need a little bit more from the rich. The rich still aren\u2019t paying their fair share. They\u2019ve got much more than they need.”<\/p>\n

I think this is a stunning number when you consider the number of people not working and not paying any tax. I think it\u2019s a stunning number, but it doesn\u2019t mean a hill of beans when you look at the amount of money we\u2019re spending. Now, let\u2019s add the sequester to this just for the sake of it. It\u2019s tough to start talking numbers on the radio, but if the sequester is kept in place for the next ten years — and it won\u2019t be.<\/p>\n

<\/p>\n

The sequester, of course, is $1.2 trillion cut over ten years. Which, year by year, is infinitesimal. If the sequester, however, is kept in place for the next ten years, the government will still end up spending $2.4 trillion more ten years from now than we\u2019re spending now, which is to say ten years from now the federal government will be spending almost as much more as what it currently collects in taxes.<\/p>\n

We are currently collecting $2.7 trillion in taxes. With the sequester, with the cuts of the sequester, we are still gonna spend $2.4 trillion more over ten years. So there isn\u2019t any budget-cutting. There isn\u2019t anything getting smaller. There is no pain being inflicted — other than the optics of it, other than government officials telling you that it\u2019s painful for people out there. There might be a couple of people getting furloughed a day a week.<\/p>\n

I have no doubt that the regime is making sure that there are some government employees that are in pain, because they need it! They benefit from it. All of you federal workers — and we\u2019ve had a number of them call here and complain about their circumstance. They\u2019re being furloughed. They\u2019re losing one day of pay a week. It\u2019s gonna mean this, gonna mean that. You\u2019ve gotta understand that the president of the United States is benefiting from your pain.<\/p>\n

It\u2019s designed for him to benefit from your pain.<\/p>\n

It is designed for that.<\/p>\n

This whole sequester — and, in fact, all of Obama\u2019s budgeting for the next two years — is designed to inflict pain, because nothing is Obama\u2019s fault. It\u2019s all the Republicans\u2019 fault. We have a president of the country who\u2019s comfortable with suffering. It benefits him politically. We have a president who\u2019s comfortable with the pain his policies — sequester is his idea — are inflicting. It benefits him politically. That\u2019s not how we\u2019ve understood presidents to operate and to act. You federal workers need to blame the boss! Your boss is sacrificing you in order to win some elections in 2014.<\/p>\n","protected":false},"excerpt":{"rendered":"

RUSH: The Congressional Budget Office announced that the federal government is going to take in a record number of dollars via tax revenue this year. That record is $2.7 trillion. Now, there\u2019s two things about this. 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