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Bush won't raise taxes for Katrina relief, money trees planted in Rose Garden
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<blockquote data-quote="MaryS" data-source="post: 18536497" data-attributes="member: 84221"><p>A flat tax is something Steve Forbes has always pushed for. He has a method whereby people could pay their income tax with a postcard instead of all the forms they go through. </p><p> </p><p>I remember reading about how Russis implemented a flat tax and doubled their revenues. </p><p> </p><p>Most people confuse the terms debt and deficit. Deficit is the amount that is being spent that exceeds the revenues for a given year, whereas the debt is the total of all accumulated deficits from the beginning. </p><p> </p><p>As long as our country's GNP continues to grow, I don't think we have a major problem. I don't remember what the last GNP numbers were, but the annual spending/revenues that I last saw numbers on were right around $3 trillion. The amount that spending exceeds revenue in a given year is know as "deficit" and as a percentage of revenue, it's not so huge. The really huge deficits were during WWII when we were running deficits of close to 300% of GDP/GNP. The current deficits are running between 3 to 4% of GDP/GNP.</p></blockquote><p></p>
[QUOTE="MaryS, post: 18536497, member: 84221"] A flat tax is something Steve Forbes has always pushed for. He has a method whereby people could pay their income tax with a postcard instead of all the forms they go through. I remember reading about how Russis implemented a flat tax and doubled their revenues. Most people confuse the terms debt and deficit. Deficit is the amount that is being spent that exceeds the revenues for a given year, whereas the debt is the total of all accumulated deficits from the beginning. As long as our country's GNP continues to grow, I don't think we have a major problem. I don't remember what the last GNP numbers were, but the annual spending/revenues that I last saw numbers on were right around $3 trillion. The amount that spending exceeds revenue in a given year is know as "deficit" and as a percentage of revenue, it's not so huge. The really huge deficits were during WWII when we were running deficits of close to 300% of GDP/GNP. The current deficits are running between 3 to 4% of GDP/GNP. [/QUOTE]
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Bush won't raise taxes for Katrina relief, money trees planted in Rose Garden
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