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Being able to produce additional revenues of 1 or 2% from an economy of trillions is not my measure of ineffective tax increases.
by true_religion 15y ago
Being able to produce additional revenues of 1 or 2% from an economy of trillions is not my measure of ineffective tax increases.
- TomOfTTB 15y agoIt is when your debt is approaching 100% of your GDP and you owe 40% of it to yourself. Think about it. If GDP and our Debt are roughly equal how is 1 or 2% a year increase in revenue going to be able to pay 40% + interest of debt?
- antihero 15y agoIf you owe money to yourself why can you not write that debt off?
- silentOpen 15y agoSelf = same economic system/country. Or would you have America writing off loans from American citizens?
- MaysonL 15y ago10 year Treasury interest rate: 3% interest on 40% of GDP: 1.2% of GDP QED.
- karzeem 15y agoUnless spending also rises by 1-2% of GDP. http://reason.com/archives/2011/02/14/the-19-percent-solution/singlepage http://reason.com/archives/2011/02/14/the-19-percent-solutio...