task0778
Diamond Member
The sad fact that most democrats will not or cannot accept is that you can't raise taxes on the wealthy enough to erase the deficits. The current 2023 deficit is approx $1.7 trillion and the current federal revenue is approx $4 trillion. So even if you raised everybody's taxes by 40%, you still wouldn't erase this year's deficits. Obviously we ain't going to do that, so the debt is going to continue to go up and that generally means interest rates will climb and you find yourself in a debt spiral with only one inevitable result. And it ain't pretty.
We are going to have to face the fact that we do not have a revenue problem, we have a spending problem.
We are going to have to face the fact that we do not have a revenue problem, we have a spending problem.