Tea, Taxes, and the Budget
Here's the new budget math, removing eight zeros;
21,700 tax revenue (IRS)
38,200 spending (USA Budget)
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16,500 borrowed. The accumulated deficits amount to a total Debt Balance of 142,000.
Suppose the Tax Revenue somehow DOUBLES, and the same magical, somehow, allows the SPENDING to remain flat:
43,400 tax revenue
38,200 spending
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5,200 surplus to pay down the debt (142,000) every year for the next 27 YEARS!!
When Greenspan fixed Social Security, way back in 1983... increasing the tax from 9.3% to 15.3% ... in order to build up a surplus, Congress spent it. And how. Social Security never grew a surplus.
Greenspan Social Security
It's not about No New Taxes... it's that congress has made a mess of the money it already gets.