Ms Benson’s “possibly” inadvertent comment is not that spending is out of control, but that the tax burden on all but the wealthy is too great to support that spending.
The clear, unspoken solution is to reverse the slow national suicide begun by Reagan et al. in the 80s and force the wealthy to pay their fair share.
Our average national sales tax on food, clothing, shelter, etc. is 9.5%, yet the wealthy trade equities on the NYSE, the CBoT, NASDAQ, etc., and pay no sales tax.
In 2014, equity trading exceeded $65 TRILLION. If we had imposed a 9.5% sales tax on equities in 2014, we would have collected more than $6 TRILLION.
Our national debt is ca. $19 TRILLION. Given other expenditures, we could pay that off in five years IF we had the courage to force the wealthy to pay their fair share.
Ms Benson’s “possibly” inadvertent comment is not that spending is out of control, but that the tax burden on all but the wealthy is too great to support that spending.
The clear, unspoken solution is to reverse the slow national suicide begun by Reagan et al. in the 80s and force the wealthy to pay their fair share.
Our average national sales tax on food, clothing, shelter, etc. is 9.5%, yet the wealthy trade equities on the NYSE, the CBoT, NASDAQ, etc., and pay no sales tax.
In 2014, equity trading exceeded $65 TRILLION. If we had imposed a 9.5% sales tax on equities in 2014, we would have collected more than $6 TRILLION.
Our national debt is ca. $19 TRILLION. Given other expenditures, we could pay that off in five years IF we had the courage to force the wealthy to pay their fair share.
Thanks you, Ms. Benson.