Very interesting chart I found on their website though - had to share it.
Very clever of them to try to hide the fact though that the numbers for Hoover happened in a single year, while Obama's plan is to be implimented over 10 yrs. But then .... Hoover's $'s are in the Millions , while Obama's $'s are in the BILLIONS. This makes the chart a tad hard to read (which is why they have the % of total & GDP in there) basically you would have to move the decimal point three places to the right on the Obama chart under the $ column.
But still, the majority of the changes Obama wants to make will be within the first year thanks to the Democratic congress seemingly backing him all the way.
Things to take a good look at:
Obama: Corporate Energy tax (Hoover didn't have one, but look at how much it is going to cost to run a company next year). Rich Tax = Obama nearly doubles the rate of Hoover.All in all, Obama is coming up with $1.6 TRILLION in TAXES ... now if there suddenly aren't any corporations left to tax because he broke their backs? if the rich take the huge hit and no longer qualify as 'rich'? Where will he get the taxes from???
I think Biden gave us a clue on the campaign trail .....
Obama described 'upper class' as $250,000 .... Biden came out the next day and said it was $150,000 .... and there was at least one clip on You Tube where he said $100,000 (but there's enough vaugity to the peice that makes we wonder if it wasn't from when he was running for President himself).
Either way --- if the income you aimed at doesn't quite make the money you want ....
JUST LOWER THE BAR
Yes soon we too will be at the 60% tax level that Sweden has. Oh it used to be 90% in the 1970s!!!