Bernie Madoff is now in jail and we can all celebrate because he's a dirtbag. But some people are also celebrating the misfortune of billionaires who aren't dirtbags.
Here's the one thing: You can hate the rich, but eating them is only going to leave a lot more people hungry.
Today I heard people on TV celebrating that 19 of the 20 richest people on the Forbes billionaire list saw their net worth decline last year. This bothered me and since I don't like going two consecutive days without using a food prop, I'll explain the problem using eggs.
You've heard the expression "you shouldn't put all of your eggs in one basket," right? Well, neither should America.
Imagine 24 eggs, each representing about 5.5 million American tax filers.
While all of these eggs may have been created equal, they aren't even close to equal when it comes to how much tax revenue they contribute to our country.
Let me explain what I mean:
Six of those two dozen eggs pay 99 percent of all U.S. income taxes.
Four of those six eggs pay 91 percent of all U.S. income taxes.
And one egg — just one — pays 65 percent of all U.S. income taxes.
Now, if I could turn that egg into a McMuffin, I'd eat three quarters of it. Yeah, that's right: I'd eat the rich and then I'd show you that one quarter of the one egg that's left pays 41 percent of all U.S. income taxes.
Now, back to the Forbes list.
There are 30 percent fewer billionaires than from last year and the group has lost a staggering $2 trillion. Isn't that great!
What's the point? This country has convinced itself that you can have it all. But you can't; you can only have one or the other.
We can hate the rich and want them to go broke or we can want them to prosper so they can pay for all our free stuff.
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