- Sep 4, 2005
- 24,719
- 14,600
- Country
- United States
- Faith
- Atheist
- Marital Status
- Single
- Politics
- US-Others
I'm curious how long it would take for Carson to bankrupt America with his 10% flat tax.
You mean for the government to bankrupt themselves...
You can bankrupt yourself no matter what your revenue is...just ask Trump
If a government is operating off of the "Get $100, find a way to spend $105" mentality, it doesn't matter how much they have coming in.
A 10% tax could probably work if the right spending cuts were made.
CNN did an analysis of it when Rand Paul make a flat tax plan declaration a while back.
The plan that Paul described in a Wall Street Journal column Thursday would tax everyone - businesses and and individuals - at a flat 14.5% rate. Households wouldn't pay tax on income below $50,000, the Tax Foundation expects tax revenue would drop by about $1 trillion
Scale back military spending and that would cover nearly half the difference. Eliminate the expired programs that John McCain found when reviewing the budget...that knocks another $200 Billion off the total...end the war on drugs (and all the wasted money that goes with it)...and voila.
Upvote
0