{"id":11053,"date":"2011-08-25T12:42:46","date_gmt":"2011-08-25T16:42:46","guid":{"rendered":"http:\/\/cfif.org\/v\/freedom_line_blog\/?p=11053"},"modified":"2011-08-25T12:42:46","modified_gmt":"2011-08-25T16:42:46","slug":"taxing-the-rich-won%e2%80%99t-fix-the-deficit","status":"publish","type":"post","link":"https:\/\/cfif.org\/v\/freedom_line_blog\/11053\/taxing-the-rich-won%e2%80%99t-fix-the-deficit\/","title":{"rendered":"Taxing the Rich Won\u2019t Fix the Deficit"},"content":{"rendered":"<p>In a <a href=\"http:\/\/online.wsj.com\/article\/SB10001424053111903327904576526611297517664.html\" target=\"_blank\">brilliantly written refutation<\/a> of the Obama-as-Genius argument, Mortimer Zuckerman explains why even taking all the money from \u201crich\u201d people and corporations won\u2019t solve the deficit problem:<\/p>\n<blockquote><p>Even if the government instituted a 100% tax on both corporate profits and personal incomes above $250,000 per year, it would yield enough revenue to run the government for only six months. Why? Because under Mr. Obama&#8217;s presidency, government spending has swelled to 24% of GDP from 18%.<\/p><\/blockquote>\n<p>Spending is Obama\u2019s original sin as president.\u00a0 Unless he\u2019s willing to repent of that folly and ratchet back on the flow of money, the American economy will stay mired in a recession.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a brilliantly written refutation of the Obama-as-Genius argument, Mortimer Zuckerman explains why even taking all the money from \u201crich\u201d people and corporations won\u2019t solve the deficit problem: Even if the government instituted a 100% tax on both corporate profits and personal incomes above $250,000 per year, it would yield enough revenue to run the [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[143,19,1450,1004,56,2995,82,61,71],"class_list":["post-11053","post","type-post","status-publish","format-standard","hentry","category-posts","tag-barack-obama","tag-economy","tag-federal","tag-gdp","tag-government","tag-mortimer-zuckerman","tag-recession","tag-spending","tag-taxes"],"_links":{"self":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/11053","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/comments?post=11053"}],"version-history":[{"count":4,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/11053\/revisions"}],"predecessor-version":[{"id":11057,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/11053\/revisions\/11057"}],"wp:attachment":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/media?parent=11053"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/categories?post=11053"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/tags?post=11053"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}