Our Ads
Who is John Galt?
Every year, the government spends hundreds of billions of dollars it doesn’t have, creating a burden of debt for American taxpayers. The national debt will grow by more than $9 trillion, according to an August 2009 report by the White House Office of Management and Budget.
Who is John Galt? The hero of Ayn Rand’s classic novel, Atlas Shrugged, John Galt leads a strike of the most creative and productive minds in America. In the novel, Galt’s group refuses to continue to produce for a country that no longer rewards their hard work. In our own nation, if a debt crisis forces the government to raise taxes dramatically, the effect on our economic growth and productivity could be catastrophic.
How much do we pay in taxes? In New York City, 1% of taxpayers pay almost 50% of the city’s income taxes. In California, the top 1% pay 47% of the state’s income taxes. And according to the IRS, in 2007 the top 1% of American earners paid 40% of all federal income taxes.
How long can this go on? America must defeat its addiction to debt, before we drop the ball.
Debt Disaster: It’s closer than you think.
See our other ads
