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The rich get richer...

...and according to the President, "America doesn't succeed when the rich get richer..."

There's a little problem with that reasoning—it's called "math."

Yes, we all know that many Americans are functionally illiterate:

But many, including the President, are also functionally innumerate:

Indeed, a friend went to that well-known list of the rich getting richer, the Forbes 400, and just for fun, added up the wealth of the top 100—I know, we're getting into the realm of higher mathematics here, three-and four-column addition—and it came to just over a trillion dollars. Fabulous wealth, no? Shouldn't we just confiscate it and solve all of our fiscal woes?

Well, as we've blogged about here 18 months (and a couple of trillion dollars in debt) ago, all that wealth is a drop in the bucket relative to what we are spending—and borrowing—on a daily basis. 

In addition to innumeracy, maybe people can't suspend their disbelief—people simply can't believe that we're that far gone financially, that even instantly, magically confiscating all the wealth of the wealthiest among us and immediately applying it to our budgetary problems wouldn't fix things.

In fact, it would probably make things worse...the same mathematically-inclined friend points out that if you impoverish the rich at the federal level

  1. there goes the tax base for other taxing authorities such as the 57 states, and
  2. what do you do in year two? You can only go to that particular well once, after all.

And, seeing what happened to their rich compatriots, any other productive or potentially productive Americans would likely "go Galt." John Smith found that out in Jamestown in 1607—when it comes to human nature, there's nothing new under the sun.

But our idiot savant President thinks that none of that is an issue. Debt? What debt? So what if we have a little debt...after all, we just owe that to ourselves, right?


What we're doing is saddling our children, grandchildren, nieces, nephews, grand-nieces, grand-nephews with debt that will keep them working for the government rather than for themselves for their entire lives...all to repay the excesses of the current and past generations, excesses that didn't arise out of compassion, but out of political expediency.

And even worse, if that's possible, is the money that we owe to creditors outside our own the Chinese Communists.

Yes, the Chinese Communists.  Sounds old-fashioned, doesn't it?  Didn't the Chinese see the error of their ways and morph into capitalists?

Not really.  They're big-C Communists who are not nice people (don't click on the link unless you have a strong stomach...what's been seen can't be unseen).

The Chinese would make a mafioso Vito-the-Legbreaker collector look like Rebecca of Sunnybrook Farm.

This is where we're headed, folks:


h/t Tom.

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