Reply #8: Wrong, wrong, wrong. [View All]

[RUMMYisFROSTED]

Deficit is about $14 trillion...Current budget projections show us adding about a 1$ trillion MORE per year for the next 10 years. Interest rates will for sure be a huge burden, something like a $1 trillion per year for the interest alone, right?
$1.6T deficit. Appx. $400B in interest.

I know there is a good chunk of cash the IRS can get from increased taxes (on the rich), but we simply don't have enough "rich people" to make up the difference, or do we?
It's not the number of people, it's the amount of money available.

How much more can the government realistically get from them?
A shitload.

We can also possibly cut defense in half, down to about $400 billion per year, still not enough?
Enough for now.

Has anyone calculated all of this out?
Yes.

How will this work?
The way it has worked in the past.

I realize the deficit does not have to get to zero...But overall, how do we move the needle?
Revenue, Defense, FICA cap, Inheritance Tax, Corporate Tax, Tariffs, etc...