| SamuelRSmith said:
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I'd need to know more about before formulating an opinion. I will say just based on what is stated here the odds are near zero of happening. Just touching FICA is met with overwhelming resistance, much less eliminating it. I do agree it needs to be reformed in some capacity. Raise the age, reduce who is eligible, etc. Also, I am in favor of reducing complexity of taxes, but every attempt to do so has just added complexity so not sure a president can do an over haul to the system. However, I do think the more money you make the greater percentage you should be taxed. Not 1950s levels, but the rate of social divide in wealth growth over past 30 years is not encouraging. Some middle ground of rates is preferable.
The issue is what the goal of taxing is within an economic model. Simply put we do not have the tax income to match our spending so I'd ask the Senator if a balanced budget or reducing deficits is part of this plan? What are his projections for growth under such a tax plan? Would it adjust if economic realities shift globally? How much should spending be reduced? Where do we reduce it? What impact does that have?
Not an easy question and frankly I don't have all the answers. My guess is we'll have to endure another depression before addressing these problems.
