The Importance of Taxing the Rich

The top 1% in this country's income is somewhere on the order of two to three trillion dollars. At current rates that would pay off your deficit for one year, maybe two. It wouldn't cover two complete years, not by a long shot. Once you've taxed 100% of it, that's gone. You no longer have a 1%. The enumerancy of the American public comes out from time to time and it typically comes out around issues like this.