AnthonyW86 on 03 August 2011
Time to raise those taxes, it's the only way. Taxes revenue off the U.S. is only about 25% of GDP, while most other developed countries like Germany, Great Brittain etc. are at around 40% GDP.(with the exeption of Japan). Based on the U.S. GDP of 14.7 trillion a year(yes their public debt is now 100% of their GDP) that difference of taxe revenue acounts for 2 trillion A YEAR. I know those two can't be swapped one on one that easily but it's clear it is something the government has to work on. Because a higher taxe revenue combined with the defense budget cut is really all they need to prevent the debt from increasing.
