Should the gov't set an amount of wealth that an individual can have and seize everything over that? I assure you that once a gov't does that, it will come after us all. The gov't could seize every penny the top 1% has and it wouldn't make a dent in the deficit. So, where are they coming next? Yep, they will come after us. Our annual debt is about $800 billion. To pay that, every man woman and child would have to pay an extra $2400/yr. If we just tax the top 1%, they would have to pay $240,000 extra. Given that their average income is around $700k, that would leave them with an annual income of $180,000, or an effective tax rate of 75%. Think those dudes are going to keep working? Many wouldn't, so that golden goose is dead after 1 year of that. Now if we just go after the top .1%, each of them would have to pay $2.4 million/yr. That would be tough as they only make about that in a year. So, going after the "rich" ain't going to work. They would either move to another country or become bums if you tried to make up the deficit on their backs. The only way to take care of the debt is to cut spending and grow the economy. The problem is not too little income, it is too much spending. The gov't is spending $4 trillion/yr. 75% of that is for SS and health care. Our annual debt is about $800 billion. But if you want ot do it by taxation, you have to go after the middle class. For a family of 4, that is an extra $10,000/yr in taxes. If we want to cut spending, we have to look at SS and health care. Both of SS and medicare are going broke, btw, Medicare in 8 years and SS in 16. So, if we do nothing about those two programs, things will get much worse.

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I :heart; Q