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Politics : Formerly About Advanced Micro Devices
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To: Taro who wrote (1014007)5/1/2017 5:15:36 PM
From: Land Shark1 Recommendation

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denizen48

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Sweden has a 25% VAT and a 56% maximum marginal income tax rate

Sweden's tax revenue is 45% of GDP, in the USA it's about 26%

Clearly there's room for higher taxes in the USA, particularly on the wealthy. Higher taxes and less corporate welfare (esp. to military industries) would balance the budget.

Finally, subsidizing exit industries like coal and oil is counterproductive. The US would do best by promoting nascent industries, such as electric vehicles, renewable energy and IT.
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