The Daily Paul has been archived. Please see the continuation of the Daily Paul at Popular Liberty.com

Thank you for a great ride, and for 8 years of support!

Comment: 100% Tax Rate

(See in situ)


100% Tax Rate

Even if you raised the tax rate on every U.S. citizen to 100%, it would not even balance the budget, and that is assuming (quite incorrectly), that GDP would remain the same. The first steps to bringing debt down as a percentage of GDP needs to be cuts in non-essential spending and possibly closing loopholes on corporate tax havens. The Ron Paul budget plan could have made that happen; although difficult to implement.