Says the party that added 8 trillion to the debt in 4 years!
That would be Trump 1.0 who added $8 trillion to the debt.
This is what I mean when I say you all go dead silent and brain dead when Republicans are running up the tab.
Hey, lets make some cuts.
What do you want to cut? Military? SSI? Medicare? Medicaid? You name it. Cut away.
I bet you think that is a clever question since it stumps people like you.
However, I can hear several people laughing because they know exactly what I am going to say to you as I have been saying it since, what, 2012?
We can balance the budget very easily.
1) Ban all tax expenditures except the EITC, which is the ONLY tax expenditure proven to increase productivity.
Boom. That's $1.6 trillion in savings each year.
Each. Year. That's how much we waste on tax expenditures.
So there's your balanced budget right there, with perhaps a little surplus.
2) Raise the Social Security and Medicare eligibility age to 70, and index it to 9 percent of the population.
When Social Security was enacted, only 5.4% of the population was over 65.
When Medicare was enacted, 9% were over 65.
Today, 16% are over 65.
Even the most innumerate moron can see this trend is unsustainable.
We are living longer, we need to be working longer.
So there you go. These two very simple things would not balance the budget. They would create a massive surplus.
Two serendipitous side effects would also come out of this.
a) Instant and actual campaign finance reform. If a dickweed lobbyist can't bribe a politician to put a tax expenditure into the tax code, he won't waste his money. This would drastically reduce incumbent campaign war chests, thus giving challengers a better chance. Bye-bye 98 percent re-election rates in the House and 80 percent re-election rates in the Senate.
Which is exactly why tax expenditures will never go away. No incumbent will ever voluntarily vote to have his gravy train taken away!
Trump is already trying to add MORE tax expenditures.
b) Everyone earning identical incomes would be paying identical taxes. It should offend every American's sensibilities we currently live under a tax regime in which people earning identical income are paying radically different taxes.
So there you go. Easy peasy.
Surprise!
