15 July 2011

Lefty nonsense: "Obscene Wealth" vs. truly obscene Federal profligacy

I ran across this link via an acquaintance who found it to be a compelling indictment of the excesses of capitalism:

11 Things the Richest U.S. Households Can Buy That You Can’t | United for a Fair Economy

Excerpt (with highlights and emphasis from the original):

  • The richest 400 households can pay off every student loan for every single student in the entire United States. No more paying for an education, so that you can get a good job so that you can... well, pay off your education.
  • The richest 400 can pay off all credit card debt for every single person in the entire United States. Imagine that! No more credit card debt looming over your shoulders!

Etc. You get the point. Well, you might want to keep in mind that there actually are a few things that the "obscenely rich" can't buy with all of their money:

  • If you took every penny away from the richest 400 Americans, it would not balance the Federal Budget even for this year alone.
  • Since this is about wealth, not income, they would be left with nothing to contribute next year.
  • All of their wealth would not cover Social Security and Medicare for even one year.
  • You could confiscate all of their wealth and barely cover half of what Obama is currently demanding to have added to the Federal Debt Ceiling.
So there's a little food for thought. The "obscene wealth" of the wealthiest pales in comparison to the obscene profligacy of the Federal government under President Obama.

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