Eliminate all of the Bush tax cuts, including the tax cuts for low- and middle-income Americans, and you would reduce the debt by perhaps 10% -- assuming you didn't cripple the economy in the process. Tax the rich? That won't get you there either. In fact, according to the Congressional Budget Office, in order to pay for all currently scheduled federal spending would require raising both the corporate tax rate and top income tax rate from their current 35% to 88%, the current 25% tax rate for middle-income workers to 63%, and the 10% tax bracket for low-income workers to 25%.
Looks like the economy is crippled no matter what now.....it's the spending STUPID
http://www.nypost.com/p/news/opinion/opedcolumnists/three_little_pigs_how_entitlements_Ah41sxLQHFRPa5sB0vsB3L
Looks like the economy is crippled no matter what now.....it's the spending STUPID
http://www.nypost.com/p/news/opinion/opedcolumnists/three_little_pigs_how_entitlements_Ah41sxLQHFRPa5sB0vsB3L