Quote:
Originally Posted by Barry-xlovecam
Discretionary Personal Spending in the USA is over $40 trillion dollars per year -- a 3% consumption tax would pay the bills.
Everybody pays. Food, medicine and educational spending could be exempted.
You buy a house for $300K you pay 3% consumption tax. You pay $600/mo rent you pay a 3% consumption tax.
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So an additional tax. Where did you get $40 Trillion dollars?
https://www.google.cz/webhp?hl=en&gw...=en&q=us+gdp&* According to that it's 2.5 US GDP.
I do agree with you on moving the taxes from A to B. Just that you might be out on the 3%.
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The United States ranked 31st out of 35 OECD countries in terms of the tax-to-GDP ratio in 2015.* In 2015, the United States had a tax-to-GDP ratio of 26.4% compared with the OECD average of 34.3%. In 2014, the United States was ranked 32nd out of the 35 OECD countries in terms of the tax-to-GDP ratio.
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So 26.4%. Raise taxes to 45%-50% and over time the US can rebuild the infrastructure you demand and repay the debt. Or do you think money grows on trees?
Do you see the point of my argument yet?