A One Time 35% Asset Tax on the Top 5% Would Balance the Budget Instantly - Should we do it? Vote yes/no in message

SHARED SACRIFICE - IT'S A FALSE REPRESENTATION

Over the past 25 years the top 5% have gained $32 trillion in wealth while the middle class has lost. Once the middle class gains $32 trillion in wealth, then and only then can we talk about SHARED SACRIFICE, including Medicare and Social Security cuts, but not before.

FYI, 35% one-time asset tax on $40 trillion equals $14 Trillion. How much is our deficit?

David Stockman, Ronald Reagan's Budget Director and architect of the largest tax cuts in history complained in an interview for 60 Minutes (Oct. 31, 2010):

"In 1985, the top five percent of the households, wealthiest five percent, had net worth of $8 trillion. Today, the top five percent have net worth of $40 trillion. The top five percent have gained more wealth (in 25 years) than the whole human race had created prior to 1980."

Video
http://www.cbsnews.com/video/watch/?id=7009217n&tag=contentBody;storyMediaBo...

• added by: JPSayles  
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