Quote:
Originally Posted by
Tellafriend
The Committee for a Responsible Federal Budget (CRFB) produced an interesting analysis this month looking at how moving certain buckets out of consideration for reductions made the challenge of cutting spending that much more difficult. To balance the budget without increasing revenue — mostly meaning taxes — you’d need to trim the federal budget by 26 percent over the next decade. If you exclude defense or veterans programs from cuts, you need to eliminate a third of what’s left. Take out Social Security and Medicare, too, and suddenly you have to cut basically everything. (Sources: crfb.org, washingtonpost.com, italics mine)
There are two facts that nobody wants to hear
1. It doesn't matter what the rich are taxed. There aren't enough of them to move the needle on a 3-4 Trillion dollar budget. If they want to increase tax receipts (not “revenues” Bernie or Liz) it has to come from the middle class.
2. The only way we can handle a 30+ Trillion debt is through steady and semi significant inflation. We have tax receipts of of 3.5T a year. We need to inflate so tax receipts go to 7-8-9T a year.