Kasz216 on 03 August 2011
| AnthonyW86 said: 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. |
Problem is, the vast majority of those taxes would be on the poor and middle class, since any expert will tell you "broadening the base" is the only way to get significant income.
Do we really want to have tax levels near socialized countires levels without socialized countries socialized programs?
The rich people tax cuts the democrats want are just symbolic so later on when they have to "broaden the tax base" which is the only way to get real tax revenue, they can claim they tried everything first.
