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The video is wrong
RP has said many times that if we reduce present day federal spending (mostly by a change in foreign policy) to what we spent 10 years ago, then we can cover that spending thru revenues generated from sources other than the individual income tax. The numbers add up. That would give us a balanced buget but the federal debt would still be outstanding.
In order to begin paying down the debt the individual income tax on $$$ over say 1 million could be kept in place.
h-daddy
The Video Appears Correct
The poster of the video seems right about the numbers. It does not discredit Ron Paul's argument though because his case for abolishing the income tax is a moral one, not a pragmatic one. The deficit and debt problem needed to be addressed years ago. In my opinion It's already too late to solve the problem. Economic reality always prevails and our case it means a severe economic depression for the USA and other countries as well. Government programs, services, foreign aid, and military intervention will be cut across the board regardless of who becomes president because the money will not exist to fund them. Attempts to increase the money supply through hyperinflation will fail because paper is worthless. Look at Zimbabwe today. Deflationary depression is more likely because the Fed holds treasury bonds as its primary asset and would not want to see their value eroded. Ron Paul's policies can, at best, help mitigate some of the effects of the coming financial crisis by cutting spending earlier than anyone else would, but he alone can't prevent it. The notion of a balanced budget at this late stage is fantasy.
The video appears correct?
Did you watch the same video I did? Did you notice how the poster paid no attention to the any of the other line items? Ones like Social Security, Medicare, Medicaid, 'Other', and the Interest on the national debt? Items which Dr. Paul has already clearly stated his intentions towards addressing?
The poster completely ignores those points, thereby completely distorting what Dr. Paul has said is needed to fix our budget. He's playing a game, and I'd encourage you to further review what the poster of that video says and think about his positions before posting up such an erroneous statement/post as "The video appears correct" here.
Easy
See the numbers he quotes? See the bottom line of government spending? The one that has $741 Billion for 'Other'? What, pray tell, is in there? Black ops? Foreign aid? Cheney's slush fund? How about the $252 Billion in INTEREST on the debt? Interest to who? Or how about reducing spending to 2000 rates?
The guy is a clown. Pay attention to the facts, not the distraction.
war tax resources
http://www.warresisters.org/piechart.htm
Herein lies the problem
HYDROMAN
The Government is to large and cannot account for all of the expenditures
( including off-budget ) . Google the national budget and see how many different projections and bullshit figures you get from difference sources!
However when the IRS comes to examine your accounting , you must show them a single creditable balance.
I think the guy that produced this bullshit blog is contracted by the IRS employee union.
"Since 1789 the only government on Earth that has the power to crush the American people`s liberties across the board is the government of the United States"
Robert Higgs