SIMPLIFICATION, or "IT'S THE BORROWING, STUPID!"

In science and engineering, Scientific Notation is used to handle large numbers so they may be understood by those of us who are mathematically challenged:

Lesson # 1:

* U.S. Tax revenue:   $2,170,000,000,000

* Fed budget:             $3,820,000,000,000

* New debt:                $1,650,000,000,000

* National debt:        $14,271,000,000,000

* Proposed budget cuts: $38,500,000,000

Let's now remove 8 zeros and pretend it's a household

budget:

* Annual family income:              $21,700

* Money the family spent:           $38,200

* New debt on credit card:          $16,500

* Outstanding card balance:     $142,710

* Total family budget cuts:               $385

Time needed to pay off debt: 512 YEARS!!

Got It ??

OK.

Now, Lesson # 2: Another way to look at the Debt Ceiling:

Let's say you come home from work and find there's been a

sewer backup in your neighborhood and your house has sewage

all the way up to your ceilings.

What do you think you should do: 

(A) raise the ceilings, or

(B) pump out the crap?

Your choice is coming Nov. 2012

Hat Tip:  Dr. GOG

-neon leon

WORTH A THOUSAND

-neon leon

CHENEY SAID IT BEST

Former Veep Dick Cheney referred to Mr. Obama as "an unmitigated disaster" as President.  Can anyone prove him wrong.  Anyone?  Anyone?  I thought not.


And here's another gem from Mike Ramirez:  Remember: 93 percent of all income taxes are paid by persons earning just $50,000 or more.

-neon leon

THE NEW 93 PERCENT

From CNS News. com:

– Americans making over $50,000 paid most of the federal taxes that were paid in the U.S. in 2010.

According to statistics compiled from the Internal Revenue Service (IRS) by the Tax Foundation, those people making above $50,000 had an effective tax rate of 14.1 percent, and carried 93.3 percent of the total tax burden.

Out of the 143 million tax returns that were filed with the IRS in 2010, 58 million – or 41 percent – of those filers were non-payers.

But Tax Foundation data also shows that people who didn’t pay any income tax received $105 billion in refundable tax credits from the IRS.

Apparently welfare isn't a bad gig:  free food, free housing, free medical, plenty of pocket money for flat-screen TV's, smokes, liquor, and drugs...no wonder it's called a "Plantation Mentality."

By the way, the CNS article also states that the federal tax code is 3.8 million words long – 3.5 times longer than all seven books of J.K. Rowling’s famous Harry Potter series combined.  And you thought Obamacare was a ponderous document. Makes Herman Cain's "9-9-9" plan sound a bit better, doesn't it?  

And it makes the "Buffett Rule" look really, really stupid.  I like that.

-neon leon