July 13, 2012
Denise Rich
Sorry, Hollywood, that’s not what a trillion dollars looks like, much less fifteen trillion. As the much more mathematically inclined Bill Whittle explains, this administration is spending $10 billion a day. If you taxed every millionaire in the country at 100% you still wouldn”t be able to take a chip out of the deficit. When Whittle gives all millionaires” wealth to the government and adds all of the Fortune 500’s top revenue, all the ad dollars from the Super Bowl, and every professional sports star’s full salary, he says it covers about six months of government spending. That leaves us with no rich people, no corporations, and no jobs.
Liberals couldn”t care less that the IRS crackdown has caused 1,800 people to turn in their passports last year. Even the most frivolous socialite is great for the economy. Losing Denise Rich merely because she’s rich is a bad omen.
Our overbearing government has caused citizenship to be considered “more of a liability than a privilege.” There were more renunciations last year than in 2007, 2008, and 2009 combined. Americans in Europe are noticing that foreign banks no longer want to deal with American accounts. Private banks in Asia are avoiding us altogether. Su Shan Tan, head of Southeast Asia’s largest private banking lender, recently told Bloomberg News, “I don”t open US accounts, period.”
We”ve seen what happens when the government tries to get involved with the real world. They meddle with the economy and the money runs from them. It doesn”t matter if you”re chasing away investors and socialites or simply making it more difficult to do business. Chasing away the wealthy only chases away the wealth.
