I was driving around meeting potential customers all day here in Tampa Bay.
Mr. Hank the Dachshund, on the other hand, was feverishly researching the claims of Pocahontas that her 2% tax on fortunes over $50 million will easily pay for her extravagant free stuff spending plan.
He just emailed me the results of his research.
Granted he is just a miniature wiener dog, but apparently he is smarter than Lizzie.
Annual revenue under Warren’s proposal:
36,000 American fortunes of $100 million or more. Given that some of these fortunes range from 100-999 million, and obviously the numbers shrink exponentially as the totals increase, Hank was generous and allowed that all 36,000 hold fortunes averaging $150 million.
A 2% tax on those fortunes, beginning on the amounts over $50 million, would result in annual revenues of $72 billion.
There are 504 American billionaires. Hank the Dachshund figures that since these 504 are already included in the previous 36,000 mentioned previously, it is a fair to estimate the revenues produced by taxing $1 billion of each of their fortunes at 2%, resulting in annual revenues of $10.8 billion.
So, Hankie figures around $83 billion in annual revenues from raping the rich, assuming they would submit to it.
Hank, as he is wont to do, then took a break to eat boiled chicken and rice prepared by Momma Biz and took a nap in his designer doggie bed.
Refreshed, he resumed his research by investigating the cost of Lizzie’s proposed spending programs.
He found that “free college for all” would run around $75 billion per year.
He then looked into student loan forgiveness and found that that, since total students loans total $1.5 TRILLION, government assumption of those liabilities, even SPREAD OVER 10 YEARS, amount to $150 billion per year.
Finally, my studious little house dog looked at the cost of “Medicare for all”. Again, even spreading the $32.6 TRILLION cost over 10 years, the annual cost would amount to a whopping $326 billion per year.
According to Hank the Dachshund, Lizzie’s proposed “free stuff” spending would cost American taxpayers a whopping $551 billion per year.___________________________
Granted, he is just a harmless Dachshund, but Hank rates Lizzie’s claim that her 2% percent tax on fortunes in excess of $50 million would pay for her proposed programs “with money left over” as complete bullshit.
In fact, Hank reports, it would add $416 billion per year to the Federal deficit, at least until every American with more than $50 million fled the U.S. faster than pop stars fleeing the U.K. the the sixties.
I trust Hankie a heckuva lot more than a fake Indian.
Plus, he is cuter.
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