The convention speeches are full of empathetic phrases underscoring our need to “take care of those who need it” and to “share” what we have.
The government's spending spree “taking care” of us has created a tax burden that is impossible to pay. There aren't enough taxpayers left in the whole country to pay for all the things we need as a nation, plus support half the nation's families. President Obama would have to take 100 percent of all income in taxes from everyone earning more than $60,000 to maintain the government's spending. (American Thinker)
All taxpayers in America earn a combined $5.6 trillion of taxable income. $4 trillion in spending represents over 71 percent of the total taxable income of U.S. taxpayers. That $4 trillion doesn't include paying down the $16 trillion in debt or covering the $25 to $70 trillion in unfunded liabilities. Even 100 percent of all taxpayer income would not cover the current spending, the debt reduction and unfunded liabilities.
The Buffett rule would pay for 11 hours of government spending in 2013.
If I give my time and money to homeless teens, that is “sharing.” If the government demands that I give more money to it so that it can create more dependency, that is confiscation, not “sharing.”