Quote:
Originally Posted by baddog
(Post 13559215)
Excuse my ignorance, but impact fees are typically assigned for new construction, correct? As in environmental impact. Wouldn't that have a fairly significant impact on growth if they started having to pay the feds every time they wanted to build a house?
As far as the other means (tariffs, tolls, etc), what do you estimate the price of a gallon of milk would go to? Stamps? Gasoline?
Would Walmart become the next Nordstrom's?
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I was wrong about the RP quote, he didn't know numbers when Tim asked him. I don't think that is important though. Your nit picking. If he said- the income tax produced $966,900,000,000 in fiscal 2006 would that be better? Wouldnt change my opinion. And like he stated- he can't instantly remove all income tax, he just wants to phase it out as fast as he can.
Wack job? Crazy? INSANE? Lets look at the numbers.
In 2007, the US recieved $966,900,000,000 from individual federal income tax. It also recieved this (i stole this from wikipedia)-
# $818.8 billion (37.6%) - Social Security and other payroll taxes
# $220.3 billion (10.1%) - Corporate income tax
# $75.6 billion (3.5%) - Excise taxes
# $26.1 billion (1.2%) - Estate and gift taxes
# $28.3 billion (1.3%) - Customs duties
# $41.6 billion (1.9%) - Other
We spent 2.8 trillion, so we packed on around 500-600 bil onto the national debt.
So as you can see- the non federal income tax was around 45% of the budget. Total NON income tax money for the fed is about 1.2 trillion dollars. That is a shit ton of money, son! And that is with no new taxes. That is just using things already in place.
OK then for expenditures- if you look here
http://www.usaspending.gov/ you can see that in 2000 we spent 1.8 trillion on everything.
So if we had a government about the size of what we did in 2000, AND we borrowed about the same amount, we would be in the ballpark.
So there it is. A government without a federal income tax!