If you look at the 2019 Budget (below), especially the Welfare and Medicaid line items, you see that the $900b deficit can be offset by reducing welfare and medicaid as well as other reductions, such as in Defense. While the economy is at its highest level, and at full employment, with jobs all over, we should really be sure that the recipients of welfare and medicaid are truly deserving, and are US citizens. IMHO the dems give out freebies too easily thereby ensuring that the dependency on their democrat plantations is assured. I'm hoping that Trump makes sure that there are more people pulling the wagon than riding in it.
2019 Federal Budget $4.04T
Mandatory spending $2.74T
Social Security $1,050b
Medicare $625b
Medicaid $412b
Welfare $462b
Interest on the Debt $363b
Discretionary $1.3T
Defense $893.0
HHS $70.0
Education $59.9
VA $83.1
Homeland $52.7
Energy Dept $29.2
NNSA $15.1
HUD $29.2
State Dept $40.3
NASA $19.0
All Other Agencies $133.1
We could eliminate the deficit entirely, and lower tax rates for EVERYONE, by simply banning the $1.4 trillion spent each year on tax expenditures.
We have an insane system whereby entities earning identical incomes are paying radically different taxes.
We have a tax code which is the largest government behavior control program in the history of the world. We have a tax code which is used by the government to interfere in every single market on a MASSIVE scale.
How anyone claiming to be a "conservative" can defend this system is beyond me.
Off topic but....does that mean you’re behind EVERYBODY paying a flat tax?
I support the Fair Tax, with no exemptions. Taxes on consumption are superior to taxes on production.
What you don't get is that it doesn't matter which tax structure we have if tax expenditures are allowed to exist. You have been misled into believing the flat INCOME tax has some magical quality which will prevent corruptible loopholes and carve-outs for special interests.
I’m thinking you’re putting words in my mouth.
I’m simply calling you out on your displeasure with “tax expenditures”...I’ll venture a guess and bet you don’t personally benefit from said expenditures.
What I’ve found is those who ***** about tax expenditures simply use that as the ‘smart guys’ angle on suggesting the treasury is underfunded by America’s most productive whom pays 87% of all collected income tax. An underfunded treasury equals less free shit for lowlifes...you hate that.
Don’t get me wrong, I respect your sneaky angle as it illustrates a level of shame in your desire for free shit.
See, the
danielpalos of the world are shameless as all hell, they’ll straight up tell us they deserve free shit because they breathe oxygen on American soil. Again, good job, stay sneaky, stay embarrassed.
I use as many deductions, credits, and exemptions on my taxes as possible. I actually use quite a few. I would be stupid not to.
So your assumption is wrong.
But what you don't realize is that tax expenditures are the biggest "free shit" in the history of the world. They are stolen from the pockets of every taxpayer, including yourself!
Even worse, they cause prices for some things to be higher than they should be. For instance, the mortgage interest deduction causes house prices to be 27 percent higher.
So you think you are getting a good deal when you deduct your mortgage interest when in fact you are paying a higher tax rate and more for your house. You are being robbed.
Now ask yourself, who benefits from higher house prices?
There's more then one beneficiary.
Answer that question, and you will begin to understand how tax expenditures cause wealth to be redistributed UP the food chain.