Originally posted on 02/24/2016:
There's not enough rich people to fund Sander's fantasy land. In fact, Forbes states the total net worth of every billionaire in the USA is 1.7 - 2 trillion; our total national debt is over 19 trillion and we're overspending hundreds of billion a year. You could literally steal every dollar from every billionaire in the USA and give it to the government...and it would only solve 10% of our national debt (let alone pay for the additional promises Santa Claus Sanders makes).
And nevermind the fact the top 1/5 percentile of americans pay 83.9% of federal income taxes. But people would rather live in fantasy live "just tax the mean wealthy rich people." The Laffer Curve shows that overtaxing anything doesn't always equal increase in revenue. If you want proof of the income tax: