Let's see according to your incorrect number of 5 trillion, you obviously forgot, or just didn't care to mention that we borrow 40 cents for every dollar we spend. So we are not getting 4 trillion in revenue in taxation. 40% of that 5 trillion is borrowed money. So we would need over 2 trillion more in taxes just to break even. But your numbers are wrong, so let's look at it with correct numbers.
See www.usdebtclock.org for actual figures..which I detail below.
Our spending it approximately 3.585 trillion and out revenue is 2.371 trillion. The rest is funded by borrowed money. 1.2 trillion. We would need to raise taxes about 50% over all to cover just the spending alone, not including the debt we still will have having over us.
The rich pay the payroll tax and corporate taxes all by themselves to start off with. Which amounts to 1.047 trillion, pretty close to half of our current revenue now. They ALSO pay income taxes, since our income tax is a progressive tax, those making more money...pay more. So they are also paying the majority of the income tax as well(current highest rates are 35% for the highest wage earners).
So let's see. The rich pay almost half to start the taxes, then another 35% on top of that, even by the minimalist estimates they pay 10-15% after deductions. Is 60% not enough for you? Should they pay everything to taxes? Would you try to become rich if, when you became so, you actually made no money at all?
Commerce with all nations, alliance with none, should be our motto. - T. Jefferson rЭVO˩ution
"Everyone wants to live at the expense of the state. They forget that the state wants to live at the expense of everyone.” - BASTIAT
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