Quote:
Originally Posted by donquixote99
If we want to not 'kick the can down the road,' it can be done by increasing taxation to something over about 30.5% of GDP. More than a few OECD countries collect tax at this level.
|
We don't have a revenue problem, we have a spending problem, IMHO. Hell, if we just found a way to cut in half federal funds lost due to waste and graft we could start to pay down the debt.
Political realities in Washington being what they are, where no one trusts anyone anymore, I don't think we're going to get agreement on what to reduce to achieve a balanced budget, or where or how to increase revenue, getting cooperation will be the first challenge.
If possible, maybe an agreement could be reached with a temporary tax increase coupled with a commitment to a balanced budget. None of this "balance the budget over 5 years" or "over seven years" crap, but something that demonstrates real political will on both sides.