Simple Math

Saying "This is not class warfare, it's math", President Obama seeks to raise taxes in what probably is a double dip recession.

The problem is Obama can't do the math and the scientific community is united in that fact.

The federal government collects $2.2 Trillion each year, but spends $1.3 Trillion more than it collects with fiscal 2011 spending expected to come in at roughly $3.60 Trillion.

There's the problem Jethro Bodine.

Over the last 70 years, the top tax rate has fluctuated wildly from a high of 90 percent to a low of 28 percent, yet revenues always averaged out to about 18 percent of the national income.

Even if we were to tax 100% of the income of the top 1% in America (using 2008 statistics, the most recent year for which IRS data is available) that would yield only $938 billion in revenue.

Which is why you'll be paying double in federal security fees when you fly and the feds will be adding $15 a month to the monthly cost of an average new mortgage.