45 + 40 Still Equals 85, Right?Submitted by Gary Patridge on Mon, 10/24/2011 - 19:23
I realize we're living in bizzaro-world these days, but...
Dr. Paul has consistently called for an end to the Income Tax. I couldn't agree more- it's immoral to tax the fruit of a man's labor.
But, Dr. Paul has also strongly said NO to any further Federal government borrowing. I also agree with that- when your debt exceeds your income, like it or not, you gotta stop spending.
So- if the income tax represents ~45% of the Federal budget
Borrowing/(printing) represents ~40% of Federal spending
To accomplish these two goals would require an 85% reduction in the Federal annual budget? What am I missing?