re: #222 goddamnedfrank
Spending and revenue are both the issue. Our defense spending is ridiculous and our upper income tax rates and loopholes are bleeding us dry. There’s also no point in subsidizing non-renewable energy sources that are causing nothing but long term environmental damage.
Federal revenue as a percentage of GDP peaked at about 24% of GDP in 1945. For most of the period since then it’s stayed between 15 and 20% of GDP, even though upper income tax rates have varied widely in that period. That’s just a fact. If I’m wrong, please show me the figures.
You also have different circumstances now than you did in the fifties or sixties for instance. There are a lot more places for rich people to go now.
It’s no good saying that’s “wrong” somehow, it’s just reality.