Financial manager Ed Butowsky appeared on Breitbart News Saturday with host Matt Boyle to discuss the latest dismal jobs report and how inadequate job growth is under President Barack Obama and will be under Hillary Clinton if she wins the White House. “Anybody thinking about voting for Hillary Clinton in any way, shape, or form needs to understand what I’m about to say,” said Butowsky, adding, “The reason we need new jobs is for tax revenue.”
“We’re doing everything we can to destroy this country under the policies we have right now,” concluded Butowsky.
Butowsky mainly addressed America’s spiraling deficit and what it will take to correct the dangerous trend of out-of-control government spending.
Butowsky also addressed the issue in a recent Breitbart News article:
Write down $500 billion. That was our deficit last year.
Now, divide by two. The result – $250 billion – is how much more we should have paid in income taxes, because income taxes provide half our revenue.
Now, where can we find $250 billion? One way is to raise taxes. The other – and I vote for this one – is to create more people who pay them.
Back to the math. The average American makes $50,000 a year and pays 25 percent – $12,500 – in income taxes. Divide 250 billion by 12,500 and you get 20 million – the number of people we need to put in new jobs in one year to cover our nut.
We’re almost done. Divide 20 million by 12, the number of months in a year, and the result – 1.67 million – is the number of new jobs we need to add every month to overcome half the deficit.
That’s right … 1.67 million new jobs a month.