Our friend, Toronto attorney David Lesperance, created an excellent video parable to explain what happens, as the government continues to demand that the wealthy pay increasingly larger and disproportional amounts of tax, in order to support the government’s unbridled spending and for transfers of wealth to corporate “Friends of Obama” or “Friends of Bush” or “Friends of Bill” or friends of whatever other person happens to be president at the time, or to those who are just too lazy to go out and earn a living for themselves.
We hope you enjoy it.
This is only an animated parable. To learn what’s really happening, read “The Rich Don’t Pay Tax! …Or Do They?“ It’s loaded with facts and figures, but written in easy-to-comprehend language, so even liberals can understand it.
Now that you’ve watched the parable of The Flight of the Golden Geese, consider that since Obama took office and began his “Soak the Rich” agenda, formal renunciations of U.S. citizenship have increased 13-fold. As you look at the chart below, keep in mind that these numbers represent only those who had a net worth of $2,000,000 on the day before expatriation or had earned $124,000 per year for each of the five years prior to renunciation, based on 2006 dollars and indexed to inflation. That puts every person represented on this chart well within the top 10% of income earners or those who pay more than 70% of all federal personal income tax.
Now, with this accelerating expatriation rate in mind, think about the parable of The Flight of the Golden Geese and then ask yourself, “Who is going to fund the USA, when the Golden Geese are gone?” Can you afford to pay triple what you currently pay in U.S. income tax? That’s what would happen if we lost most of the top 10% of income earners. Furthermore, at the current rate, we could easily lose well over half of that group before Obama leaves office, if we don’t stop Obama’s “Soak the Rich” agenda soon.
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Read “The Rich Don’t Pay Tax! …Or Do They?”
to learn how this parable is playing out in the real world.
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