For you guys information. I design and inspect pipelines. This pipeline would create jobs in engineering, drafting, surveying, welding, equipment operators, cathodic protection engineers, landscapers, then when finished pipeline operators. These all average about $80,000 a year. Also the oil would come from Canada and North Dakota, where the money would stay at home, not given to some Arabs. As far as taxing the rich, you can take EVERY PENNY EARNED FROM EVERY MILLIONAIR AND BILLIONAIR IN AMERICA AND STILL IT WOULD ONLY BE ABOUT 10% OF THE FEDERAL EXPENSES. IT WON'T WORK.
Now, my wife earns money on the stock market by SPENDING our EARNED money that has ALREADY been taxed on stock to earn some extra money. We PAY 15% capital gains taxes on this money earned. IF WE LOSE MONEY, the govenment surely doesn't pay us back. IT IS RISK taking. This is how MOST Billionaires make their money, but the dividends and or the sale of stock for spending cash. I certainly don't want to take a RISK if I have to pay 30%. This is class warfare plain and simple. Now a doctor or lawyer can make $300,000 + but has to pay 28% tax on earned income. However, If he decides AFTER PAYING INCOME TAX, to invest say $50,000 in the stock maket, he has to pay the 15% Capital gains tas. Did you know if you bought a 3,000 sq. ft. home 30 years ago for $100,000 and sell it for say $400,000 and downsize to retire, and buy a $200,000 home, you have to pay capital gains on $200,000. Did you know that the 1% threshold is $342,000 income a year. That is not much to be part of the 1% er's. This is nothing but class warfare. I say lower the income tax to match.
TAXING the rich will not get us out of trouble, CUTTING the budget is the only way forward. As Ron Paul said, we need to cut $1 trillion in one year period, no foreign aid, no bailouts, make any government benefits have a manditory drug testing, send the illegals home period, they violated the law.
Did you also know, Alabama's unemployment droped to 8.1% from almost 10% after implementing the illegal immigration law. We are now lower than Georgia, Tennessee, Florida, and Mississippi. Hmm, they were taking some jobs. We dropped about 1.6% in 3 months. Faster than the national average and faster than the neighboring states. Now, just enforceing the immigration laws, would probably lower the unemployment about 1% nationwide. Also building the pipeline and allowing drilling offshore, and on government leased land, would lower it another 1%. Mmmm, we would be coming out of the Great Recession.
